Acal wary as profits tumble 26%

12 April 2012

PROFITS plunged at telecoms equipment and IT parts distributor Acal last year after sales fell 9% to £297m. Profits before tax and goodwill amortisation tumbled by 26% to £16.6m. The group warned that, although the worst is over, 'this is unlikely to be reflected in the results for the first six months of 2002-03'. It added: 'We should see signs of improvement before the financial year-end.'

The main casualty was the electronic components division. Acal said it had run down its stocks so any pick-up should flow through quickly.

Earnings per share before goodwill amortisation dropped by 25% to 42.4p, or after it by 32% to 32.4p. The dividend is increased by 11% to 18.3p a share.

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