31st Jan 2014 08:37
LONDON (Alliance News) - Premier Farnell PLC Friday said group sales per day for the full year ending February 2 are expected to have grown 2.6% year on year, as all divisions delivered growth in the second half, though it warned its profit margins were under pressure.
In a pre-close trading update ahead of its full year results announcement in March, the distributor of technology products and solutions for electronic system design, said it expects sales to grow 3.5% year on year in the second half, excluding sales of Raspberry Pi.
The Raspberry Pi is a credit-card-sized single-board computer developed in the UK.
The firm said it expects full-year operating margin to be broadly in line with the first half.
"Whilst we anticipate that gross margin will be approximately 0.4 percentage points lower than the first half, our continued focus on driving cost efficiencies will deliver operating margin and operating profit in line with our expectations," Premier added.
Premier said given current market conditions it expects the group's operating margin to be maintained at a similar level in the 2014/15 financial year as it seeks to optimise business performance and "enhance our customer proposition".
The firm will publish its full results on March 20.
The stock was trading at 218.00 Friday morning, down 16.10 pence or 6.9%, making it one of the biggest fallers on the FSTE250.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
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