Premier Farnell gets boost from China and India

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​​​​​​​ELECTRONICS distributor Premier Farnell reported a rise in annual profits despite a tough year, helped by better-than-expected sales in emerging markets such as China and India.

The Leeds-based company said the current year has got off to a positive start despite adverse weather conditions hitting its North America business in February.

Premier said that pre-tax profits rose 8.4 per cent to £74.8m in the year to February 2 while revenue rose 2.6 per cent to £968.

Chief executive Laurence Bain said sales in emerging markets grew 14.9 per cent in the year, ahead of the company’s target of 10 per cent.

Asia-Pacific revenue rose 12.4 per cent during the year.

John Foley of PTSG

PTSG’s results are set to be in line with board’s expectations