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Industrial and electronics products maker Electrocomponents reported like-for-like revenue growth was 8% in the four months through January and kept its annual outlook unchanged despite ongoing heightened freight, labour and logistical costs.
Digital like-for-like growth was 6%, with group web revenue increasing 8%, the company said.
Looking ahead, the company said its full year profit expectations were unchanged with 'stronger revenue growth offset by additional ongoing costs.'
Analyst consensus for the year ending 31 March 2021 was for adjusted pre-tax profit of £175.0 million within a range of £171.1 million - £180.4 million.
'[W]hilst we remain cautious about the external environment, this positive revenue progress underpins our confidence in the Group's prospects and the significant growth opportunities in both revenue and margins we see over the medium term,' the company said.