30th Mar 2022 07:42
(Alliance News) - Electrocomponents PLC on Wednesday said it will change its name to RS Group PLC in early May.
"RS is our primary customer brand, recognised by designers, builders and maintainers of industrial equipment and operations around the world. As RS Group we will bring our business together under one brand, united behind a common ambition and our single purpose: making amazing happen for a better world," Chief Executive Officer Lindsley Ruth explained.
Electrocomponents is a London-based distributor of industrial and electrical parts. It said it expects annual revenue and margins to be at the upper end of market estimates. The company's financial year ends on Thursday.
Ahead of an investor day on Wednesday, Electrocomponents said it sees annual revenue and operating profit margin at the top end of current consensus estimates.
Trading in recent weeks has been in line with what it reported for the nine weeks to March, Electrocomponents added.
The FTSE 100 stock was 0.7% higher at 1,093.00 pence each in London on Wednesday morning.
By Tom Budszus; [email protected]
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