London SW1-based components distributor Electrocomponents Plc appears to be virtually at a standstill at the interim stage with pre-tax profit managing to rise a mere 4% to just under UKP24m on turnover up 8% to UKP191m. The poor performance has been blamed on difficult market conditions in the retail sector as well as start-up costs for Misco Spain. However, RS Components is managing to sustain its growth at the moment and has seen the introduction of new product features in the past six months, the most notable of which, according to Electrocomponents, is the issue of its first colour catalogue. Banking on the excitement and interest that this colour issue has undoubtedly caused, RS is doubling the capacity of its Corby site by investing UKP19m over the next 18 months. Misco Europe continues to grow in the UK, West Germany and Italy, although Misco Spain, as expected, reported a loss. The companies involved in the retail sector saw sales decline, and Electrocomponents is negotiating to sell Online Lighting Ltd to its management. The sale of RR Electronics Ltd and the Retron Group to Arrow Electronics which was announced in July (CI No 1,215) has now been completed. Electrocomponents is ambivalent about its performance over the next six months, saying that the retail side will continue to suffer while RS and Misco Europe may do better.
