11th Jul 2024 12:25
RS Group PLC - London-based industrial and electronics products distributor - Says trading in the first financial quarter ended June 30 was in line with expectations. Revenue rose 3% annually, but was down 3% on a like-for-like basis, excluding acquisitions, foreign currency and trading days. "As trading conditions stabilise and comparatives get easier, the pace of decline in like-for-like revenue across all three regions continues to slow as anticipated," RS Group says.
Looking ahead, the company says: "We are progressing well with our cost savings programme, the integration of our acquisitions, and investment in operational efficiencies and system enhancements. We remain confident this multiyear investment will improve future operating leverage and returns."
Current stock price: 768.50 pence each, up 6.7% on Thursday afternoon in London
12-month change: up 6.4%
By Tom Budszus, Alliance News slot editor
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