RS Group sees FY at top end of estimates after strong Q3

RS Group said it expected full year profit to be towards the top end of consensus estimates after third quarter revenues grew 8% despite a tough economic backdrop.

The distributor of industrial and electronic products said strong trade in EMEA and the US offset an 8% fall in Asia-Pacific sales due to the shortage of computer parts.

Consensus for the year to March 31, 2023 is a revenue range of £2.71bn-3.04bn, adjusted operating profit of £356.8m-384.1m and adjusted pre-tax profit of £350.4m-374.9m.

Reporting by Frank Prenesti for Sharecast.com