26th Sep 2007 07:01
Electrocomponents PLC26 September 2007 Electrocomponents plc - Trading Update Electrocomponents plc, the major international high-service distributor ofelectronic, electrical and industrial supplies, is today giving a trading updateahead of its results for the 6 months ending 30 September 2007. The implementation of the Group's strategy is continuing with the differentiatedEEM and MRO offers increasingly appealing to our customers as shown by theGroup's revenue growth. Revenue during the half year is expected to grow at around 7% for the Groupcomprising 11% for International and 2% for the UK. Within International, whichrepresents some 60% of Group turnover, sales are expected to grow by around 9%in Europe, 12% in North America and 15% in Asia Pacific. All growth rates areadjusted for trading days and exchange rate movements. The gross margin of the Group is expected to be around 50.1% for the half year. Allied, the Group's North American business, is moving to its new warehousefacility in Fort Worth, Texas. The move is progressing well and it is expectedto be successfully completed during November 2007. This facility, which istwice the size of the former warehouse, will support the future growth of thebusiness. While we are watchful of the general macro economic conditions, and those inNorth America in particular, the Board is confident that this financial yearwill be another of good progress. The full results for the six months will be announced on 9 November 2007. Enquiries: Ian Mason Group Chief Executive 01865 204000Simon Boddie Group Finance Director 01865 204000Diana Soltmann Flagship Consulting 020 7886 8440 There will be a telephone conference call today at 09.00am for analysts andinvestors. Dial-in instructions are set out below. Date: 26 September 2007UK Time: 08:50am for 09:00am UK Local Call Dial-In: 0845 302 2569UK Free Call Dial-In: 0808 238 0678Europe & International Dial-In: + 44 (0) 1452 587 436Canada Toll Free Dial-In: 1866 645 2898USA Toll Free Dial-In: 1866 854 5856Quote Reference Number: 14362373Chairman: Ian Mason Electrocomponents plc Safe Harbour Statement: This announcement contains certain statements, statistics and projections thatare or may be forward-looking. The accuracy and completeness of all suchstatements, including, without limitation, statements regarding the futurefinancial position, strategy, projected costs, plans and objectives for themanagement of future operations of Electrocomponents plc and its subsidiaries isnot warranted or guaranteed. These statements typically contain words such as "intends", "expects", "anticipates", "estimates" and words of similar import. Bytheir nature, forward-looking statements involve risk and uncertainty becausethey relate to events and depend on circumstances that will occur in the future.Although Electrocomponents plc believes that the expectations reflected in suchstatements are reasonable, no assurance can be given that such expectations willprove to be correct. There are a number of factors, many of which are beyond thecontrol of Electrocomponents plc, which could cause actual results anddevelopments to differ materially from those expressed or implied by suchforward-looking statements. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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