StockMarketWire.com - Electrocomponents said like-for-like revenue grew 5% in the first half of the year as a strong performance in industrial offset softer growth in electronics amid an uncertain macro environment. The uptick in revenue came as the company generated further growth and market-share gains in Europe, the Middle East and Africa and improved growth in Americas, driven primarily by sales-force initiatives. The company reiterated its previous guidance for first-half gross margin to be down year on year, by around 0.8%, driven primarily by mix.

But it also said that it expected a more 'modest' year-on-year decline in the second half of the year as 'strong' growth in OKdo would be partially offset by purchasing and pricing actions. 'We are pleased with our performance in the first half and remain on track to deliver good progress for the year,' said chief executive Lindsley Ruth.

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