Deltron Electronics - Trading Update/Acquisition
April 03 2000 - 3:02AM
UK Regulatory
RNS Number:3426I
Deltron Electronics PLC
3 April 2000
DELTRON ELECTRONICS PLC
Acquisition and Positive Trading Update
Acquisition
Deltron Electronics, the Pan-European specialist distributor
and manufacturer of electromechanical components, announces
the acquisition of RAB Distribution and OEM Connectique
(part of RAB SA), a French based distributor of value-added
interconnection products for use in the Telecommunications
and Aerospace industries. Customers include Alcatel,
Thomson and Sagem.
Deltron has acquired the assets, business and goodwill of
RAB Distribution and OEM Connectique (part of RAB SA), for a
consideration of FFR18m (#1.67m) in cash.
The businesses will be merged with Deltron's existing
operations in France. Once complete, Deltron will have three
offices in France - Paris, Vichy and Noirefontaine - which
on an annualised basis will account for some 25% of overall
group sales.
This acquisition is expected to be earnings enhancing.
Trading Update
At the AGM on 22 February 1999, we commented that....."the
group is enjoying its best trading conditions for many years
and whilst early in the year, trading prospects are and
remain encouraging. For the four month period (October to
January 2000), total bookings were +55% and billings +40%
(in sterling terms) and like for like sales were +30% and
+20% respectively."
We are delighted to report that since the end of January,
sales growth has remained buoyant with bookings and billings
continuing to run at levels substantially ahead of this time
last year.
As a consequence, Deltron expects to exceed market profit
expectations for the current year.
Deltron is expected to report its interim results for the
half year to 31st March 2000 in early May.
Christopher Sawyer, Chief Executive of Deltron, commenting
on the acquisition said....."We have, once again, taken the
opportunity to enhance our overall product offering and
customer base via a small bolt-on acquisition which both
extends our reach into the Telecoms and Aerospace areas (20%
of sales last year) as well as broadening our offering to
existing customers across Europe. Our French business has
now grown five fold since we opened up in Paris five years
ago."
On trading....Christopher said...."This should be a record
year for profits and we have the potential to deliver many
more."
For further information contact:
Edward Tozer, Finance Director
Deltron Electronics plc 01638 561156
Tim Anderson/Kirsty Robeson 020 7466 5000
Buchanan Communications
END
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