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Electrocomponents, Allied Electronics Report Record Sales

FORT WORTH, Texas — Electrocomponents plc, the operating company for Allied Electronics and RS Components, reports record sales and increased profit margins for the year ending March 31, 2011. Based in the UK, Electrocomponents operates in 32 countries around the globe; overall, the Group grew revenues by more than 20 percent and profits by more than 50 percent.

“It has been an excellent year for Electrocomponents, with Group sales exceeding £1 billion for the first time and an increase in headline profits of over 50 percent,” says Ian Mason, Group Chief Executive. “We have delivered a very strong underlying sales growth of 21 percent, with all regions reporting double digit increases.”

Operational highlights for the Group include international business contributing to 70 percent of Group sales, with a 25 percent sales growth. Moreover, Group e-commerce sales grew 37 percent, with revenue shares now more than 50 percent.

“E-commerce and electronics continue to transform our business,” comments Mason. “More than half of our sales are now made through the web, and we are continuing to enrich the online customer experience as we accelerate progress toward our target of 70 percent of Group revenues coming from e-commerce.”

Contributing to the Group's growth for FY11, Allied Electronics achieved 34 percent sales growth, with revenues increasing by more than 100 million dollars. Online revenues increased by more than 80 percent.

Lee Davidson, president of Allied, says, “The reasons behind such strong sales growth are the performance of Allied's local sales offices, strong e-commerce growth and successful new customer acquisition.”

{complink 12836|Electrocomponents plc}

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