Premier Farnell posts better than expected full-year profits
Electronics components distributor Premier Farnell reported a drop in adjusted profits before tax of 3% to reach £74m in 2014. That came on the back of a 0.8% fall in full-year revenues to £960.1m.
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Premier Farnell
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Support Services
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1.12%
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However, the company’s operating margins declined by less than forecast by analysts, slipping by 40 basis points, to 9.2%. The analyst consensus was for margins of 9%.
Earnings per share (EPS) on an adjusted basis came in at 13.8p, down 3.5% from the prior year but ahead of the 13.5p which analysts had penciled in.
The full-year dividend pay-out was maintained at 10.4p per share.