February 10, 2017 / 7:25 AM / in 5 months

BRIEF-Electrocomponents says underlying revenue growth accelerated to 6 pct

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Feb 10 (Reuters) - Electrocomponents Plc:

* Issues a trading update for four-month period to Jan. 31 2017.

* Continued to make good progress to stabilise gross margin and reduce costs, we have delivered strong revenue growth and profitability

* In four months to Jan. 31 2017, group underlying revenue growth accelerated to 6 pct,

* All of our regional hubs seeing positive revenue trends during period.

* RS pro, our own-brand business, which represents 12 pct of revenues grew by 5 pct

* Ecommerce, which represents 60 pct of revenues increased by 6 pct.

* December saw particularly strong growth, with both north America and Central Europe benefitting from weak comparatives in month.

* Says we continue to make good progress on our cost initiatives and are on track to deliver 18 mln stg of net savings in year to March 2017.

* Says we continue to expect FY 2017 revenue and profits to see a significant benefit from foreign exchange Source text for Eikon: Further company coverage: (Bengaluru Newsroom)

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