Profits rise at Premier Farnell
The Leeds-based company said profits rose 8.4 per cent to £74.8m in the year to February 2.
Premier said the current year has got off to a positive start despite adverse weather conditions hitting its North America business in February.
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Hide AdShares in the company rose four per cent to 228.8p in morning trade on the London Stock Exchange.
Revenue rose 2.6 per cent to £968.
The company, which sells half a million products ranging from batteries to CCTV cameras in more than 100 countries, started out as a radio parts seller in 1939.
It said sales in emerging markets grew 14.9 per cent in the year, ahead of the company’s target of 10 per cent.
Asia-Pacific revenue rose 12.4 per cent during the year, with second-half recording a 15 per cent increase.
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Hide AdRevenue at the company’s marketing and distribution (MDD) business, which accounts for about 92 per cent of total turnover, rose two per cent to £892.7m.
Premier Farnell also said it would acquire US-based privately held engineering design services firm AVID Technologies Inc for £7.8m.