The distributor of electronics and maintenance products, Electrocomponents Plc is on track to deliver record full-year sales in excess of £1.2 billion at a growth rate of around 7 percent driven by international and UK growth.
The group's international growth is expected to rise by 9 percent and UK growth around 3 percent with pre-tax profits to be in line with expectations.
"I am pleased to report that the group will deliver record full year sales in excess of £1.2 billion, representing full year sales growth of 7 percent, including a strong performance from our International business which will grow by 9 percent. This performance is broad-based, with all regions and both electronics and maintenance delivering growth, and is being driven by the continued development of our industry-leading eCommerce channel which will grow by 18 percent for the full year," said CEO Ian Mason while commenting on the pre-close trading update.
The group's final quarter sales growth is expected to be around 1 percent with its international business growing by 2 percent and the UK flat.
Electrocomponents continues to gain market share internationally, particularly from its smaller opponent's capability, which are not much competent to match its wide product range, high customer service and e-Commerce capability.