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Electrocomponents announces its results for 2017 fiscal year

Electrocomponents, a distributor of electronic components and equipment for industrial maintenance under its trademark RS Components in Europe, announced annual revenue up 17% from £ 1,511.7 million (approximately $ 1.75 billion of Euro) for its 2017 fiscal year ended at the end of March, compared with £ 1291.1 million in 2016. Its pre-tax profit rose 35.7% to reach 128 M£ (146.8 M€) .

Sales in the northern European countries (Great Britain, Ireland and Scandinavia), which account for 27% of revenues, increased by 4.6% to 413.1 M£ (473.7 M€) .

Sales in France, Italy, Spain and Portugal (Southern Europe), which account for 20% of its revenues, increased by 4.2% to 301.9 M£ (346.28 M€).

Sales in Central Europe (Germany, Austria, Benelux, Switzerland and Eastern Europe) accounted for 14% of revenues, up 2.2% to 206.6 M£ (236.9 M€ )

Allied sales in the United States, Canada and Mexico accounted for 26% of revenues in North America, up 7.3% to 393 M£ (450.7 M€).

Sales in Asia Pacific (Australia / New Zealand, China, Japan, Southeast Asia and emerging markets), which account for 13% of revenues, rose by 4.2% to 197.1 M£( 226 M€).

In fiscal year 2017, Electrocomponents announced a cost reduction of 18 M£ and the goal of a total cost reduction of 30 M£ will be achieved by March 2018.