DET Deltron Elec.

RNS Number:7994V
Deltron Electronics PLC
25 February 2004


For Immediate Release                          25th February 2004



                            DELTRON ELECTRONICS plc

                                 AGM Statement



At theAnnual General Meeting of Deltron Electronics plc, the specialist
European electromechanical solutions provider.  The Chairman Paul Gourmand made
the following statement:



"The Board is very encouraged with progress in the current financial year.  I
would say that we are cautiously optimistic.



*     Our book to bill ratio continues to strengthen and we expect this to
      show through in improved performance later in the year

*     Margins have returned to their long-term averageof 32.5%. They have
      recovered from a low point in the first half of 2003 when they were 31.3%.

*     Activity has improved throughout Europe.

*     Both new products and those which are well-established, are in
      demand and we are winning new customers.



"However after three years of downturn, the Board would like to see a longer
period of trading before we will feel confident enough to call an upturn in the
cycle.  We hesitate because:



*    We have only seen four months of trading and it follows a year
     blighted by war and the consequent global economic malaise. Like for like
     comparisons therefore can be misleading.

*    There have been false dawns before and the downturn has been longer
     than anyone expected. We are therefore in no hurry to be over optimistic.



"We have in summary, started the year well and look forward to reporting more
fully at the time of our Interim Results for the period ending 31st March 2004."



"I am also pleased to announce today two changes to the Board's make up:



"Jerry Vaughan joins the Board with immediate effect. He also becomes Managing
Director of our subsidiary in France, Deltron EUROiDNDustrie. During a 27 year
career in distribution, Jerry spearheaded the development programme of RS
Components in France, building the business rapidly over a 10 year period. A
separate announcement of his appointment released today gives more background to
Jerry's appointment.



"Werner P Hohmann Managing Director of Deltron Components GmbH, responsible for
the development of Deltron's German and Austrian interests, will join the plc
Board with effect from 1st July 2004.  Pierre Romano, President of Deltron
EUROind SRL proposes to retire on the 30 June and the Board would like to take
this opportunity of recording their appreciation for the advice and support
Pierre has given during his time with the Company.



"I would like to take this opportunity to welcome Jerry and Werner to the 
Board."



Contacts:


Deltron Electronics plc
Christopher Sawyer, Chief Executive      01638 561156

Buchanan Communications
Tim Anderson                             020 7466 5000




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

AGMQKPKKKBKDKBB

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