Electrocomponents maintains full year 2103 dividend at 11.75p

DividendMax Ltd.

Electrocomponents maintains full year 2103 dividend at 11.75p

Financial highlights

1% Group underlying sales growth, with 3% maintenance growth and 2% electronics decline

UK sales grew by 4%, benefitting from Raspberry Pi** sales, International sales declined by 1%

Headline profit before tax (2)declined by 19%, with 8% due to fewer trading days and currency

Gross margin declined by 0.8% points, operating costs (2) grew by 2% at constant currency

Second-half performance improved versus the first half, due to gross margin and cost actions

Headline free cash flow grew by 6% to £56.1m, with improved working capital and lower capex

Maintained full-year proposed dividend of 11.75 pence per share

Operational highlights

Continued investment in breadth and depth of offer, with over 70,000 new product introductions

Group eCommerce sales growth of 4%, with Group eCommerce sales share of 56%

Commenced installation of common IT system across Asia Pacific, successful go-live in Australia

Strategy update

New global organisation structure implemented, delivered £7m of annualised cost efficiencies

Evolved to common global strategy, comprising seven strategic priorities

New performance framework, targeting improved financial performance over the medium term

Driven by faster International share gains, UK growth and further operating leverage

Companies mentioned