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November 9, 1995

PRICELESS RADIOSPARES FRANCHISE DOES BUSINESS AGAIN FOR ELECTROCOMPONENTS

By CBR Staff Writer

Electrocomponents Plc, the UK electronics and industrial products group behind the Radiospares catalogue continues slowly and steadily to build its business, and as predicted in its 1994 year end statement (CI No 2,678), has seen modest profits rise for the six months to September 30, in spite of consolidation and expansion costs. The Peterborough, Cambridgeshire-based group attributes its rise in pre-tax profits, up 18% at ú41.9m on turnover up 19% to ú257.3m, to its consistent strategy of seeking growth organically, in three major areas. Firstly, it continues to increase its product range, with the RS Components catalogue up to 59,400 products from 52,300 in March. Secondly, it is widening its geographical coverage, with new partners in Central Europe and South America, acquisition of Spanish distributor Amidata in October and Singapore distributor EIA Ltd this month. And Electrocomponents says it continues to introduce additional services and support to make it easier for customers to buy, and for the company to retain their loyalty. RS Components, which sells in the UK through paper and CD-ROM catalogues, saw sales up 16% in the half year, slightly higher than for the same period last year, while RS International’s sales rose 33%. The previously troubled Pact International, distributor of plugs and sockets to the amateur market, increased its sales by 1% and made a small profit for the first time in six years. Robert Tomkinson, group finance director, says both UK and international sales are showing strong growth, and the group is very much on target. He also expects continuing growth in the second half of the year. The company will pay an interim dividend of 2 pence, up from 1.625 pence last year.

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