Member Article

Leeds FTSE 250 company Premier Farnell reports growth

Sales for Leeds’ Premier Farnell, a Leeds distributer of technology products and a FTSE 250 company has reported modest growth of 1.9% for their EUropean operations.

According to the statement, the group sales per day for the full year are expected to grow 2.6% year on year as all divisions delivered growth in the second half.

Excluding sales of Raspberry Pi, Premier Farnell expects sales to grow 3.5% year on year in the second half.

Laurence Bain, group chief executive officer, commented: “The ongoing investments made to our customer proposition have begun to positively impact our growth rates, delivering improving Group sales per day through the second half.

“As indicated in our third quarter interim management statement, we continue to expect the Group’s full year operating margin to be broadly in line with the first half.

“Whilst we anticipate that gross margin will be approximately 0.4 percentage points lower than the first half, our continued focus on driving cost efficiencies will deliver operating margin and operating profit in line with our expectations.

“Given current market conditions, we anticipate that the Group’s operating margin will be maintained at a similar level in the 2014/15 financial year as we seek to optimise business performance and enhance our customer proposition.”:

This was posted in Bdaily's Members' News section by Clare Burnett .