Premier Farnell sees fall in full-year operating profit

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LEEDS-based Premier Farnell today warned that full-year operating profit would be below last year, as strategic initiatives and discounting of the credit-card sized computer Raspberry Pi affected gross margins.

The company said it estimates operating profit to be between £86m and £88m for the year to February 1. Premier Farnell reported an operating profit of £91.5m last year.

Premier Farnell, which started out as a radio parts seller in 1939, said full-year sales per day would grow 3.3 per cent.

The company said in November that full-year operating margins would be slightly below prior year levels as it experienced softer trading conditions in Asia and Europe