DET Deltron Elec.

RNS Number:1614S
Deltron Electronics PLC
28 February 2002


For Immediate Release                                          28 February 2002


                            DELTRON ELECTRONICS PLC

                               AGM TRADING UPDATE

At the Annual General Meeting held today, Chairman, Paul Gourmand said:

"Current trading conditions remain tough but we have successfully worked through
a difficult industry period of destocking and inventory write-offs.  We are now
experiencing more established trading patterns.

"Our performance in the first half of the current financial year is expected to
be subdued, reflecting current market conditions. Deltron's ability to achieve
market expectations for the year are dependant upon a strong recovery from April
and we will have a clearer indication at the time of our interim results. Whilst
it is too early to assess if this will occur, there are some encouraging signs :

-         Margins are improving
-         Bookings in February are 20% per day above those in October.
-         During the last three months Deltron has enjoyed bookings 10% above
          billings, indicating a lag between receipt of an order and its 
          fulfilment. Put another way, when bookings exceed billings a revenue 
          increase is normally just round the corner.

"Despite challenging market conditions, we have made considerable efforts to
restructure the business, effectively reducing costs, and we have continued to
strengthen our European network through acquisition. Deltron is, therefore, well
positioned to take advantage of an upturn in market conditions. The consensus
opinion in our industry is that we are at the bottom of the cycle and while it
is impossible to predict when the recovery will occur, the Board is confident it
will take place in due course.

"Shareholder value remains the Board's priority and our consistent and improved
dividend reflects our confidence in Deltron's long-term prospects for the
future."





For further information, please contact:

Deltron Electronics                                                01638 561156
Christopher Sawyer, Chief Executive  

Buchanan Communications                                            020 7466 5000
Tim Anderson/Bobbie Swanson





                      This information is provided by RNS
            The company news service from the London Stock Exchange

Debts.Co.Uk (LSE:DET)
Historical Stock Chart
From Jun 2024 to Jul 2024

Debts.Co.Uk (LSE:DET)
Historical Stock Chart
From Jul 2023 to Jul 2024