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Electrocomponents to top expectations

Wed, 07th Apr 2010 07:21

Electrical parts distributor Electrocomponents has seen sales put on a growth spurt in February and March, which should see full year profits come in ahead of expectations.The company thinks profit before tax in the year to 31 March 2010 will be around £73m.In the quarter ended 31 March 2010 group sales grew by around 15%, with the International business growing by around 19% and the UK by around 9%. Group e-commerce revenue grew by around 33%.Within the International business Europe sales rose by around 12%, North America by around 28% and Asia Pacific by around 26%. Market consensus for Electrocomponents' full year figures prior to this announcement was £68.01m.