(Alliance News) - Electrocomponents PLC on Tuesday confirmed it expects over 25% like-for-like revenue growth for financial 2022.
The London-based distributor of industrial and electronics products said its like-for-like revenue will jump 26% in the year ended March 2022, after a solid end to the year with 23% growth in the fourth quarter.
Electrocomponents noted its growth in the final quarter advanced from the third quarter's 21% growth, but was unable to match its performance in either the second or first quarters. First quarter sales surged 37% and second quarter sales were up 26%.
Electrocomponents said, as previously communicated, it expects its full-year adjusted operating profit margin to be at the top end of the consensus range. In financial 2021, it achieved an adjusted operating profit margin of 9.4%.
The company also restated its intention to change its name to RS Group PLC in early May.
Shares were up 1.0% at 1,018.00 pence each on Tuesday morning in London.
By Abby Amoakuh; abbyamoakuh@alliancenews.com
Copyright 2022 Alliance News Limited. All Rights Reserved.
