LONDON (dpa-AFX) - Electrocomponents Plc. (ECM.L), a distributor of electronics and maintenance products, Tuesday reported a surge in its profit before tax for the full year, aided by significantly lower net re-organisation costs, with 17 percent growth in revenue, reflecting positive revenue trends in all its five regional hubs.
Reported profit before tax surged to 127.1 million pounds from 34.9 million pounds. Reported earnings per share jumped to 20.9 pence from 5.0 pence last year.
Net re-organisation costs fell to 0.9 million pounds from 41.9 million pounds last last year.
Headline profit before tax was up 35.7 percent, on an underlying basis, to 128.0 million pounds. On the same basis, headline earnings per share was up 35.5 percent to 21.0 pence.
Group revenue for the year grew 17.1 percent to 1.511 billion pounds. During the year, the Group witnessed positive revenue trends in all its five regional hubs, with each region seeing underlying revenue growth rates improve during second half, delivering second-half revenue growth of 7.5 percent.
In addition, the Board proposes to increase the final dividend to 7.3 pence per share. This will be paid on 26 July 2017 to shareholders on the register on 16 June 2017.
Copyright RTT News/dpa-AFX