Premier Farnell warns of fall in operating margins
Premier Farnell, a distributor of small electronics and electronic parts, warned that full-year operating margins would be slightly below prior year levels as it experienced softer trading conditions in Asia and Europe.
The Leeds-based company reported a 2.7 per cent rise in sales per day in the third quarter, reflecting a lower contribution from its industrial products business compared with an “exceptionally” strong period last year.
Sales in Akron Brass, the company’s industrial products division, fell 5.8 per cent. The company had a major contract win from Hindustan Petroleum Corp in the second half of last year.