Farnell ends fiscal year strongly


Leeds-based electronics distributor Premier Farnell has unveiled
strong results for the fourth quarter and financial year ended
3rd February. Overall the group posted an 18 per cent rise in
pretax profits, to £33.8 million. Farnell told the City it
continued to “buck market trends and take share in an
otherwise challenging market”.

In the UK sales were up 3.2 per cent, with components distributor
CPC posting a 6.1 per cent rise and flagship brand Farnell moving
into positive growth after posting a decline of 2.4 per cent in
the third quarter. Web sales were particularly strong, with the
company now receiving a web order on average every 12 seconds in
Europe throughout a 12-hour working day. Ecommerce sales in the
fourth quarter accounted for 38 per cent of total revenue for the
European division, with some businesses achieving more than 60
per cent of sales through the web channel.

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