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Premier Farnell sees fall in full-year operating profit
February 5, 2015 / 7:54 AM / 3 years ago

Premier Farnell sees fall in full-year operating profit

Feb 5 (Reuters) - Premier Farnell Plc, a distributor of small electronics and electronic parts, warned that full-year operating profit would be below last year, as strategic initiatives and discounting of the credit-card sized computer Raspberry Pi impacted gross margins.

The company said it estimates operating profit to be between 86 million pounds and 88 million pounds pounds ($130 million- $133 million) for the year to Feb. 1. Premier Farnell reported an operating profit of 91.5 million pounds last year.

Premier Farnell, which started out as a radio parts seller in 1939, said full-year sales per day would grow 3.3 percent.

The company said in November that full-year operating margins would be slightly below prior year levels as it experienced softer trading conditions in Asia and Europe.

$1 = 0.6580 pounds Reporting by Noor Zainab Hussain in Bengaluru; Editing by Sunil Nair

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