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ELECTROCOMPONENTS BENEFITS FROM LIFTING OF RECESSION IN MAJOR MARKETS

Electrocomponents Plc, the name behind the ubiquitous Radiospares Catalogue, is launching a CD-ROM-based catalogue in July. Engineers will then be able to marvel at the the digitised colour photographs of 47,000 products and revel in the associated support information. The company is also celebrating a Queen’s Award for Export Achievement for RS Components Ltd not to mention a 40% hike in pre-tax profits to #72.7m for the year to March 31. The electronics distributor, not too surprisingly, is pleased with the performance, particularly of its RS International division, and chairman Sir Keith Bright says it expects an improved profit stream from it once start-ups moved into profitability. The company is investing #35m over the next two years to build a new warehouse in Nuneaton, which will be dedicated to handling larger products. The RS facilities at Corby will as a consequence be remodelled and upgraded. RS International performed strongly in all the countries where it operates, and the new companies in Germany and Italy are developing well. Growth prospects are excellent, particularly as the major European economies ease out of recession, the chairman said. RS Group sales rose 16.5% to #359m, with those of RS International increasing by 35% to #79m. Sales in the Pact division fell 3% to #37m, and it lost #300,000. As well as the acquisitions reported here at the time in New Zealand and Denmark, the company has formed a joint venture in India, and added distributors in the Middle and Far East. Business outside the UK and Ireland contributed a little more than #57m of the total group turnover of #396.5m. Sir Keith declares that the current year has started well; the results reflect the start of a climb out of recession in Australia, Ireland and perticularly the UK, but recession is continuing in the other countries of operation.

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CBR Staff Writer

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