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Trading statements

Electrocomponents sees double-digit growth

03 July 2017 07:19

Electrocomponents has reported a strong start to the year to March 2018, with an acceleration in revenue growth and improved profits despite continued investment to drive future growth.

The group said Q1 underlying revenue growth accelerated to 13% with all regions seeing double-digit underlying revenue growth.

A trading update said: "During Q1 we have seen a three percentage point headwind from fewer trading days, as such constant currency revenue growth, not adjusted for trading days, was closer to 10%."

Chief executive Lindsley Ruth said: "We have had an encouraging first quarter and while it remains early days, it is pleasing to see our focus on the customer, improved execution and increased sales effectiveness driving strong results across the business.

"Whilst the external macro environment remains uncertain, we have a strong platform and concrete transformation initiatives and we remain confident of delivering good progress in the current financial year."

Story provided by StockMarketWire.com

Related Company: ECM

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