17th Apr 2015 06:35
LONDON (Alliance News) - Electronics supplier Acal PLC Friday appointed Nick Salmon as its non-executive Chairman from end-July, succeeding Richard Moon, and said it expects its full year results to meet its expectations despite a hit from the strengthening of sterling against the euro.
Acal said that trading continued as anticipated in the year to end-March even though it saw an estimated 8% hit from the strength of sterling, with sales up 28% at actual exchange rates. Excluding acquisitions and at constant exchange rates, sales were up 3% for the year.
Noratel AS, which it acquired last July, is performing well, seeing sales up 7% in the second half of the year. Its January acquisition Foss AS Fiberoptisk Systemsalg is integrating quickly, Acal said, seeing sales in line with targets.
"The year finished well, with a combination of organic growth and positive contributions from our recently acquired businesses. The acquisitions made during the year, Noratel and Foss, are settling in well and performing as expected, with cross-selling programmes underway," said Chief Execurive Nick Jefferies in a statement.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
ACL.L