Annual Financial Report

Premier Farnell plc ("Premier Farnell" or "the Company") Annual Report 2014 and Notice of Annual General Meeting Premier Farnell plc announces that the Annual General Meeting ("AGM") of theCompany will be held on 17 June 2014 at 10:30 am at the offices of Allen &Overy LLP, One Bishops Square, London, E1 6AD. Premier Farnell has today posted (or otherwise made available) to itsshareholders the following documents: Annual Report for the year ending 2 February 2014 Notice of Annual General Meeting; and Form of Proxy for the Annual General Meeting (for those shareholders entitledto attend and vote) In accordance with Listing Rule 9.6.1 copies of these documents have beensubmitted to the National Storage Mechanism and will be available for viewingshortly at http://www.morningstar.co.uk/uk/NSM . The Company's Annual Report is also available on the Company website athttp://reporting2014.premierfarnell.com/ and the Notice of Annual General Meeting isat http://www.premierfarnell.com/investors/agm In accordance with Disclosure and Transparency Rule 6.3.5 (2) (b) additionalinformation is set out in the appendices to this announcement. Enquiries: Premier Farnell plcSteven Webb Company Secretary +44 (0)870 129 8608Thomas Churchill Investor Relations +44 (0) 20 7851 4107 AppendicesThe following information is extracted from the Annual Report and Accounts.Page references are to pages in the Annual Report and Accounts. Appendix A: Directors' responsibility statement pursuant to DTR 4 (page 62) Each of the Directors, as listed on pages 46 and 47 confirms that, to the bestof his or her knowledge: (a) the consolidated financial statements in this report, which have beenprepared in accordance with, International Financial Reporting Standards(IFRSs) as adopted by the EU, IFRIC interpretations and those parts of theCompanies Act 2006 applicable to companies reporting under IFRS, and theCompany financial statements in this report which have been prepared inaccordance with UK GAAP give a true and fair view of the assets, liabilities,financial position and profit of the Group taken as a whole; and (b) the management report contained in this Annual Report includes a fairreview of the development and performance of the business and the position ofthe Company and the Group taken as a whole, together with a description of theprincipal risks and uncertainties that they face. Appendix B: Risks and uncertainties (pages 26 - 27) The principal risks and uncertainties facing the Group are summarised below.The disclosure of risks and uncertainties in the table below reflects the ethosof the Company to also look for the opportunities presented when addressingsignificant risks. The principal risks are formally reviewed, twice per year by the Board. Updatesin terms of emerging risks or significant actions undertaken are addressed asand when required at Board meetings. The principal risks are determined throughan evaluation of likelihood of occurrence and potential impact, with a fullreview also undertaken by the Global Executive Team (GET), comprising the CEOand his direct reports. Management also review specific strategic, operational, financial andcompliance risks in regular focused forums during the year, at GET meetings,quarterly business reviews with each of the businesses, major programmes andproject reviews, and at other key executive management meetings. Risks and Mitigating Actions OpportunityUncertainties Competitive We continue to build our high We continue to implementpressures service proposition by adding strategic initiatives to buildincrease new technologies and a broad customer loyalty and provide a range of products working differentiated proposition for closely with suppliers as we our customer base. Our provide end-to-end solutions proposition is increasingly throughout their product personalised to meet the needs of development process. customers in targeted segments. Fragmentation of the marketplace allows us opportunities to win business and create further barriers to entry from smaller competitors. Competitive The Digital Advisory Board Implementation of the global webadvantage in includes external subject platform will enable the Group tothe web matter experts to provide enhance its online propositionchannel is not advice and guidance to the faster and more efficiently.maintained Board and eCommerce team. Recruitment, We actively measure the We seek actively to engagedevelopment or retention of talent within employees by focusing on trainingretention of our organisation which and development, customertalented enables us to track trends relationships, leadership, socialpeople and respond with the responsibility and appropriate and necessary communications. actions. Annual employee engagement surveys enable progress of our people actions to be monitored, areas of improvement identified and actions put in place. Reward schemes are continuously evaluated to drive and reward performance and ensure retention of key talent. Data and A dedicated data function has Continued investment in data andcontent been established to ensure data management processes toquality compliance with internal provide our customers with highinhibit processes and external quality product information andeffectiveness regulations. suppliers with rich insights intoof our customer behaviour.eCommerce A data strategy andstrategy governance framework has been developed to support the information requirements of our strategic programmes. Insufficient We have a fully integrated By enhancing and better targetingprogress with multichannel sales and our offering, we canimproving marketing plan aimed at significantly improve operatingperformance in addressing the needs of our performance in North America byNorth America customers, including a focus taking market share and on specific segmentation by attracting customers to our type of customers and online environment. A new vertical industries. Business President has been appointed to lead the region and execute its strategy. Failure to Best practice and personnel We continue to invest and effectleverage the leveraged from around the structural growth in our key Asiainvestment Group to ensure delivery. Pacific markets.made in AsiaPacific Investments in global inventory and our proposition will significantly benefit our customers in Asia Pacific. Significant Business continuity plans are We continually improve workflowsfailure or kept under review for all our and operational efficiencies andinefficiencies locations. provide increased capacity andin our systems investment in capability.and Ongoing review of our ITinfrastructure infrastructure and conduct regular testing of our systems. Legal and We have exposure to a number The increase in environmentalregulatory of countries and their legislation for electronics, suchrisks respective legal compliance as the introduction of REACH, requirements are addressed allows us to provide real value through a variety of to our customers through our controls. legislative expertise. Long term Software and services is Environmental and technologyevolution of increasingly part of our trends are sources of electronicsthe electronic offering to product innovation which underpin sales component development customers. to our product developmentdistribution customers.model This increases the value that they extract from our Through ongoing focus on reducing proposition while the environmental impact of doing diversifying our business business, we are introducing more model away from pure efficient processes and can offer distribution. further complementary services to our customers. The Group takes actions to reduce the impact of its business on the environment through carbon emissions and by encouraging recycling, especially of packaging. Regional warehouse model reduces impact of carbon emissions compared to alternatives.