Electrocomponents interim LFL revenues rise 5%

Electronic parts distributor Electrocomponents on Tuesday said first half like-for-like revenue grew 5% on the back of a strong performance in its industrial division.

Second quarter revenue growth in Europe, the Middle East and Asia came in at 6% compared with 5% in the previous three months. This was boosted by market share gains despite increased macro uncertainty.

The company repeated guidance for first-half gross margin to be down year on year by around 0.8% percentage points, driven primarily by mix.

It added that it expected a more modest year-on-year decline in the second half of the year as strong growth in its recently launched OKdo single board computer business would be partially offset by purchasing and pricing actions.