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UPDATE 1-Electrocomponents full-year profit rises on international demand
May 22, 2014 / 7:16 AM / 4 years ago

UPDATE 1-Electrocomponents full-year profit rises on international demand

* Full-year headline pretax profit rises 7.4 pct

* Full-year revenue rises 2.1 pct

* Total international sales rise 3.8 pct (Adds details on international sales)

May 22 (Reuters) - Electrocomponents Plc, a distributor of electronic products for engineers, said full-year headline pretax profit rose 7.4 percent, helped mainly by demand in Europe and North America.

Underlying sales in the UK declined 1.8 percent.

The British company, whose offerings range from thermometers to semiconductors, said headline pretax profit rose to 101.1 million pounds ($170.6 million) in the year ended March 31, from 94.1 million pounds a year earlier.

Revenue rose 2.1 percent to 1.27 billion pounds.

The company’s shares were down 4.6 percent at 275.6 pence in early trading on the London Stock Exchange.

Electrocomponents, which says it typically supplies electronics design engineers, machine and panel builders and maintenance engineers, said its underlying international sales rose 3.8 percent to 898.8 million pounds.

The international business - comprising continental Europe, North America and Asia Pacific - accounts for about 70 percent of group revenue.

Underlying sales in continental Europe increased 4.1 percent in the year, while North American sales rose 4.2 percent.

Sales in the Asia Pacific region rose 2.1 percent.

$1 = 0.5925 British Pounds Reporting by Noor Zainab Hussain in Bangalore; Editing by Gopakumar Warrier

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