8 February 2021 | 07:29am
StockMarketWire.com - 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.
8 February 2021 | 16:39pm
StockMarketWire.com - The FTSE 100 closed up materially on Monday, rising xx to xxxx.xx but was off its highs amid competing catalysts around oil prices, US stimulus and Covid.
In the US stocks ascended to new record highs with the S&P 500 ahead by 0.3% to 3,897.89 at 4.30pm UK time. Bitcoin also hit a fresh record level after emerged that tech firm Tesla had invested $1.5 billion in the cryptocurrency.
FTSE heavyweights BP and Royal Dutch Shell gained 4.1% to 262.3p and 2% to £13.05 respectively after Brent crude prices reached $60 a barrel for the first time since the onset of the pandemic.