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Industrial and electronics products firm Electrocomponents reported a jump in revenue in the first quarter, but said supply chain issued would slow growth and demand for the remainder of the year.
Still, the company expected to deliver low double-digit to mid-teens like-for-like revenue growth for the full year, and forecast a return to an adjusted operating profit margin around 2019/20 levels.
Like-for-like first-quarter revenue grew 37% year-on-year.
'Our Q1 outperformance was due to strong ongoing availability, our differentiated product and service solution offer and being digitally-enabled which drove market share gains in all key markets,' the company said.
Loking ahead, the company said full year gross margin is expected to be broadly flat before adding back the impact of the 2020/21 PPE inventory provisions.