LONDON (ShareCast) - Electronic components manufacturer Acal revealed a decline in full-year pre-tax profit but remains cautiously optimistic about future progress.

However it also warned that credit market problems may hit near term trade.

"Although we remain cautiously optimistic, in the near-term the current general economic uncertainties and the effects of the problems in the credit markets may affect trading conditions in our markets," the group said.

Pre-tax profit fell to £2.6m for the year to 31 March versus a restated profit of £3.7m the year before.

Revenues for the period fell to £159.5m from £164.5m after the group suffered a "tough trading environment of the European distribution market."

A final dividend of 14.7p per share has been recommended, keeping the total dividend at 21.9p per share.

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