Electrocomponents reports sales growth

4th Feb 2014 10:20

Electronics and maintenance products distributor Electrocomponents said group underlying sales rose two per cent in the four months through January.International sales were up 4%, offsetting a 2% drop in UK sales. Within International, Continental Europe grew by 5%, North America increased 3% and Asia Pacific was up 2%. However, sales growth in North America was significantly hurt by adverse weather conditions in December and January. eCommerce sales continued accelerate, up 5%, driven by investments in website functionality. eCommerce accounted for 59% of group sales during the period. The company reported no significant changes to its financial position during the period.Shares fell 4.56% to 253.20p at 10:40 on Tuesday.RD