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Electronics products maker Electrocomponents lifted its full-year profit outlook after third-quarter revenue grew by more than a fifth, driven by performance in the Americas.
Given the better Q3 trading, the company said it expected full-year adjusted pre-tax profit to be slightly ahead of consensus estimates of £278.2 million.
Third-quarter like-for-like revenue grew 21%. This was driven by Americas' outperformance, which reflected the investment made in driving a 'digitally focused and sales-led culture, with strong availability and a wider product offer from our expanded distribution centre,' the company said.
Looking ahead to Q4, the company said it was 'mindful of external pressures, including the Omicron variant and supply chain constraints.'