OXFORD, England, April 21, 2012 /PRNewswire/ --
Award presented forcontinuous achievement in international trade
Electrocomponents plc (LSE:ECM), the world's leading high service distributor of electronics and maintenance products, has won the Queen's Award for Enterprise, one of Britain's most coveted business awards. The award was conferred today (The Queen's birthday) for the company's continuous achievement in international trade, which has resulted in substantial overseas earnings, growth and commercial success.
The Queen's Awards celebrate the very best of British enterprise. They are presented on the recommendation of the Prime Minister and with Her Majesty The Queen's approval to the most successful industrial and commercial companies and to those enterprises which have made a significant contribution to Britain's national prosperity.
Electrocomponents has continuously invested in international expansion, new product introductions, improving its global supply chain capability and eCommerce effectiveness. This has enabled it to take market share from its competitors, who cannot match its product offering and customer service, and has made it the global market leader. Since 2006 Electrocomponents has successfully expanded into 10 new overseas markets, most notably within Eastern Europe and South East Asia.
Over the last five years the company's international business has achieved average annual sales growth at around double the rate of average annual global GDP growth. Its international sales have grown from £474.9m to £825.9m between the financial years ended March 2006 and March 2011 respectively and now account for 70% of its total revenues. This has grown from around 40% of total revenues in 2000.
Ian Mason, Group Chief Executive, Electrocomponents, commented: "We are absolutely delighted to be honoured with the Queen's Award, Britain's most coveted commercial prize. This tremendous accolade reflects the hard work of our employees to continuously achieve growth overseas and instils great pride throughout our organisation. We will continue to focus on growing our international sales and revenue share."
The Queen's Awards for Enterprise were inaugurated in 1966 and are awarded to businesses for outstanding achievement in international trade, innovation and sustainable development. The Awards reflect the quality of the enterprise and its single-minded ambition to succeed.
AboutElectrocomponentsplc
Electrocomponents is the world's leading high service distributor of electronics and maintenance products. Through operations in 32 countries and 17 warehouses, the Group serves 1.6 million customers worldwide and distributes 550,000 products ranging from semiconductors and optoelectronics to power tools and protective clothing. The product and service portfolio supports the entire product lifecycle from R&D through pre-production to maintenance and repair. The Group ships more than 46,000 parcels on the same day the orders are received.
RS Components and Allied Electronics are the trading brands of Electrocomponents plc. The Group is listed on the London Stock Exchange and in the last financial year to 31 March 2011 had revenues of £1.18bn. For more information, please visit the website at http://www.electrocomponents.com.
Electrocomponents plc
http://www.electrocomponents.com
RS Components
http://www.rs-components.com
