Electrocomponents says revenue trends stable

17th Jul 2009 07:44

Electrical parts firm Electrocomponents said revenue trends have been stable over the last six months with reduced costs year on year and strong cash flow. The group said the sales trend in the first quarter of the current financial year being similar to the final quarter of last year. Group revenue in the first quarter declined by 17% year on year with the International business down by 19% and the UK by 14%. Within the International business Europe dropped by 17%, North America by 22% and Asia Pacific by 16%.The group's gross margin has been at a similar level to the first half of the previous financial year at around 49.1%."We continue to focus on implementing our strategy, controlling our cost base and maintaining our financial strength," said chief executive Ian Mason."The group is well positioned for the future with a broad spread of international businesses, an extensive electronics and maintenance customer base, high service offer and realigned cost structure," he added.