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