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Trading statements

Premier Farnell sees H1 adj. operating profit down c.10%

29 July 2015 09:43

Premier Farnell said, following its Q1 trading update in June, group sales per day momentum has slowed significantly, particularly in the company's North American and UK markets.

"Group sales growth per day in the second quarter is now expected to be 1.2% versus the 5.4% delivered in the first quarter. Excluding Raspberry Pi, Group sales per day growth is expected to be 0.8% in the second quarter, compared to 1.9% in the first quarter.

"Reflecting the trading performance and the impact of current exchange rates, we now expect adjusted operating profit in the first half to be down approximately 10% on the first half of last year.

"This excludes the impact of a circa £2.0m provision release relating to the successful outcome of a potential legal action. Including the provision release, adjusted operating profit is expected to be approximately 6% down year on year."

At 9:43am: (LON:PFL) Premier Farnell PLC share price was -24.7p at 141.9p

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