Electronics Production | February 07, 2011
Electrocomponents continues strong sales growth
During the four months to 31 January 2011, Electrocomponents plc has continued to record strong sales growth of around 19%.
During the period covered (October 2010 - January 2011), the International business grew by around 23% and the UK by around 11%. Within the International business, Europe sales grew by around 22%, North America by around 30% and Asia Pacific by around 15%. The company's electronics offer was the strongest performing category benefitting from the introduction of a further 15'000 new products. eCommerce revenue grew by around 31% and now represents 50% of Group sales, up from 45% a year ago. The Group’s gross margin has been in line with the first half. The Group has a strong balance sheet and there has been no significant change in the Group’s financial position during the period. Ian Mason, Group Chief Executive, commented: “I am pleased that the strong performance reported in the first half of the financial year has continued into the second half. This is reflected in the Group’s 19% sales growth and 31% eCommerce growth during the last four months with strong performances across all regions. 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.”