08/12/2005 LONDON (AFX) - Premier Farnell PLC, which makes and distributes electronic
products, said its third-quarter pretax profit dropped 23 pct and that the UK
market remains depressed after a sharp decline this year.
Pretax profit fell to 11.6 mln stg from 15.1 mln in the year-earlier period.
However, operating profit, before reorganisation costs of 1.4 mln stg, climbed
to 18.6 mln stg from 18.5 mln.
The increase in operating profit was helped by a stable performance at
BuckHickman InOne and tight cost controls across the group, said executive
chairman Sir Peter Gershon.
Sales were up 2.4 pct in the quarter with difficult market conditions in the
UK being offset by a good performance in mainland Europe and stronger growth in
Asia, which grew 17.0 pct.