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April 22, 1997updated 05 Sep 2016 12:58pm

PREMIER FARNELL’S MASSIVE US PURCHASE COMES UP TRUMPS

By CBR Staff Writer

Premier Farnell Plc has seen spectacular revenue growth this year due to the inclusion of Premier Industrial Corp, the Cleveland, Ohio-based acquisition, in the group results. Premier Farnell which is based in Wetherby, UK, distributes electronic components. The company boosted its net profit by 14.7% to 89.8m pounds and revenue has leaped 82.4% to 928.8m pounds. But revenue from pre-existing operations rose only 14% in the period as the company experienced slowdown in demand for its main catalog distribution business. Premier Industrial Corp, bought back in April last year (CI No 2,836), brought with it more than 400m pounds of revenue and 89m pounds of operating profit from its North American customer base. The group’s board is pleased with the progress made in integrating such a large company and acquisition activity hasn’t been allowed to upset cash flows, with the group generating a net cash inflow of 157m pounds for the year.

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