March 21 British electronic parts distributor
Premier Farnell Plc's full-year earnings fell about 15
percent, hurt by a weak performance at its U.S. operations, but
said the new year had begun on a positive note.
Adjusted profit before tax in the full year was 75.7 million
pounds ($114.6 million), compared with 88.5 million pounds in
the prior year.
Revenue fell 3 percent to 952 million pounds for the year.
"Whilst we have limited visibility and current market
conditions continue to be uncertain, the new financial year has
started positively," Chief Executive Laurence Bain said in a
Premier Farnell sells roughly half a million products
ranging from batteries and CCTV cameras to semiconductors and
capacitors in more than 100 countries, through its websites
including Newark, Farnell and element 14.
Revenue from the company's marketing and distribution (MDD)
business in the Unites States, which generated about 37 percent
of total turnover in 2012, fell 6 percent to 353.8 million
Premier Farnell shares closed at 218.7 pence on Wednesday on
the London Stock Exchange.