LONDON (ShareCast) - A warning of poor recent sales and cash getting tighter pulled the rug from under electronic components company Eurodis.

Losses narrowed in the ten months to March but sales in April and May were tighter than envisaged, it said.

Pre-tax losses fell to €20.5m compared to a €74.1m loss incurred in the twelve months previously but comparable sales dipped by 10.7% to €244.1m.

“Our order book has remained flat but with a growing bias to the second half of this year,” said chairman Doug Rogers.

“This has been reflected in disappointing sales during April and May and cash is therefore tighter than previously thought,” he added.

Eurodis said there is likely to be a small impact this year from the termination of its franchise with Philips Semiconductors, which it announced in March. The group said it would need to gain another large franchise or smaller franchises to compensate for the loss of Philips.

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