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Electrocomponents said like-for-like revenue grew 5% in the first half of the year as 'strong performance' in industrial offset softer growth in electronics amid an uncertain macro environment.
The uptick in revenue comes as the company generated further growth and market share gains in EMEA despite increased macro uncertainty and improved growth in Americas driven primarily by sales force initiatives.
The company reiterated its previous guidance for first-half gross margin to be down year on year, by around 0.8%, driven primarily by mix. But said it expected a more 'modest' year-on-year decline in the second half of the year as 'strong' growth in OKdo would be partially offset by purchasing and pricing actions.
'We are pleased with our performance in H1 and remain on track to deliver good progress for the year,' said Lindsley Ruth, CEO.