Premier Farnell sees fall in full-year operating profit
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