April 5, 2018 / 6:47 AM / 6 months ago

Electrocomponents sees full-year profit beating market estimates

April 5 (Reuters) - Electrocomponents Plc, Britain’s largest industrial distribution firm, said its expected full-year adjusted pretax profit to be above market estimates after posting strong revenue growth in the fourth quarter.

Adjusted profit before tax for year ended March 31 is expected to be slightly ahead of the top end of the market consensus range of 161.8 million pounds to 171 million pounds ($227.5 million-$240.4 million), the supplier of Raspberry Pi, a low-cost credit card-sized computer, said.

Comparable revenue in the fourth quarter rose 10 percent, with big increase coming from its Asia Pacific business, Electrocomponents, which is turning itself around, said. ($1 = 0.7113 pounds) (Reporting by Rahul B in Bengaluru; Editing by Gopakumar Warrier)

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