Electro plunges by 10% to £86 million - Business - Evening Standard
       

Electro plunges by 10% to £86 million

Electrocomponents today revealed that pre-tax profits had plunged by more than 10% last year to £86.6 million, and said sales had continued to fall in the first eight weeks of the current year.

It added that group revenues were down by 17% in the last two months - similar to the last quarter as demand for its product in the engineering sector faltered. The dividend is cut to 11p from 18.4p.

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