Electrocomponents posts modest half-year sales rise

2nd Oct 2013 07:39

Electronics and maintenance products supplier Electrocomponents posted half year sales growth of one per cent after a solid performance from Continental Europe and North America outweighed weakness in the UK.In an update for the six months ending September 30th, while underlying sales grew just 1%, stronger sales growth of around 4% was recorded in September.International grew by 3% and the UK declined by 3%. Within International, both Continental Europe and North America grew by 3% and Asia Pacific was flat, the group explained. eCommerce sales, which makes up around 57% of group sales, grew 6% during the period. Chief Executive Ian Mason said: "In the first half group underlying sales growth has remained similar to the second half of last year, at around 1%. We are investing in our strategic priorities to enable us to grow market share and improve our financial performance over the medium term."Electrocomponents said there have been no significant changes to its financial position during the period.CJ