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Acal strengthens board with two new members

Electronic components distributor Acal has strengthened its board with two experienced new directors...

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Acal has bolstered the board....

Electronic components distributor Acal (LON:ACL) has strengthened its board with two new directors - Tracey Graham and Malcolm Diamond - who will take up the roles from November 1.

Graham was a director at pawnbroker Albermarle and Bond (LON:ABM) between 2011 and 2013 and was managing director of De La Rue Cash Systems from 2005 to 2008.

Diamond was previously managing director of Trifast between 1984 and 2002, senior non-exec director at Dechra Pharmaceuticals from 2000 to 2010 and a director at Unicorn AIM VCT from 2004 to 2013.

Acal chairman Richard Moon said: "We are delighted that Tracey and Malcolm are joining the board. We look forward to working with them and benefitting from their extensive business experience as we take the group into the next phase of its development."

Earlier this month the group unveiled strong sales and earnings growth in the first half but noted the possible impact of a global economic slowdown.

Sales rose by 18%, with sterling’s strength masking a much better underlying performance with sales 30% ahead at constant currencies.

Like-for-like sales rose by 2%, with gross margin higher and operating margins climbing above 5%.

Acquisitions Noratel and Foss boosted the Design & Manufacturing division and are performing well, while the core components business was strong in Europe but soft in the UK.

Acal is building a business focused on increasingly high value-add activities.

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