Global electrical products distributor Rexel, Paris, France, reported sales for the fourth quarter were €3.3 billion (US$4.4 billion), up 5.4 percent over the same period a year ago. Organic same-day sales grew 5.3 percent year over year. Profit declined 1.8 percent to €60.4 million (US$79.6 million).
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The 5.3 percent growth on a constant and same-day basis reflected a solid performance in most European countries (+4.5%), continued strong growth in North America (+7.4%) and double-digit growth in China (+14.1%) and in Latin America (+14.7%).
For the full year 2011, sales were €12.7 billion (US$16.7 billion), up 6.3 percent over sales in 2010. Organic same-day sales grew 6.2 percent. Profit increased 39.2 percent to €319 million (US$420.6 million).
\”The company has strong fundamentals on which to build. In 2012, we will continue to seize growth opportunities, reinforce our leadership, extend the range of value-added services offered to our customers and expand in energy efficiency,\” says Rudy Provoost, designated CEO. \”Even in the current uncertain economic context, I am confident that we will continue to outperform GDP growth in our countries, generate solid profits and cash-flow, maintain a strong financial structure and deliver value for all our shareholders.\”
Provoost will officially take on the role of CEO from Jean-Charles Pauze on Feb. 13.
