Electrocomponents expects 2010/11 pre-tax profits in line after sales surge 19%


Electrocomponents (LON:ECM) reported that sales rose 19% in the four months to 31 January with the international business growing by 23%.

The group expects the headline profit before tax for the year ending 31 March 2011 to meet its expectations.

Electrocomponents’ electronics offer was the strongest performing category, benefiting from the introduction of a further 15,000 new products.

Revenues at eCommerce grew by around 31% and now represents 50% of group sales, up from 45% a year ago.

“I am pleased that the strong performance reported in the first half of the financial year has continued into the second half," said chief executive of Electrocomponents Ian Mason.

"We are implementing our strategy at pace with eCommerce reaching 50% of group revenues for the first time and DesignSpark, our leading online electronics design resource, attracting more than 270,000 visitors since its launch in July,” he added.

Quick facts: Electrocomponents

Price: 649 GBX

Market: LSE
Market Cap: £2.9 billion

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