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Electronics Production | September 12, 2007

Profit for Premier Farnell jolts up

UK based Premier Farnell posted a 15 % rise in its first-half profit, second-half performance is in line with its expectations.
The third quarter had seen an *improving year-on-year sales growth over the second quarter and the company is continuing to make progress in the business.

Reuters estimates that forecast median pretax profit for the year of 66.6 million pounds. The group posted pretax profit for the six months to July 29 of 33.8 million pounds as revenue rose 4 percent to 362.5 million pounds, Reuters reports.

Chief Executive Harriet Green told journalists "We have seen growth across all divisions with double-digit growth in pretax profit at constant exchange rates. The start of the third quarter has seen improving year-on-year growth rates compared to the second half."

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