Jobs go as Premier Farnell cuts costs

PREMIER Farnell, the electronic components supplier, saw its third quarter sales decline by 1.6% as it launched a cost action plan to save £4m.

The Leeds-based business reported revenues of £233.5m between August and November, down from £241.8m in the same quarter last year.

For the first nine months of its financial year, revenues have declined by 2.8% to £712.7m. Pre-tax profits were down by 10.8% for the quarter and 41.8% for the nine month period.

It has shed 41 jobs as part of its cost saving measures.For the full story register now for free or login below...