(November 18, 2010)
BRAMMER, the North West distributor of industrial components such as bearings, motors, seals and gearboxes, said today trading since July had been ahead of expectations.
The Wythenshawe, Manchester, based group which employs more than 2,500 people in more than 300 locations worldwide, said the upturn was being driven by an improving trading environment and market share gains.
Overall sales per working day grew 18.2%, with all countries seeing improving sales.
Brammer said it had won five new pan-European accounts in the period, with total potential annual revenues of more than £30m.
Added to seven accounts won in the earlier part of the year, this means that in the 10 months of the year to day, Brammer has picked up 12 new wins with total potential revenues of £70m over the longer term.
The company said sales per working day are up 12.2% in the UK, 24.8% in Germany, 13.8% in France, 10.2% in Spain, 15.2% in Benelux and 27.9% in the rest of Europe in the last four months.
In the 10 months of this financial year, sales per working day are 11.1% ahead.
The buoyant trading picture means that Brammer expects profits to he at the higher-end of forecasts.
The company said: "November has started well and we expect to achieve further strong sales growth in both November and December.
"As a result we anticipate full year profits will be at the higher end of our expectations. We believe all of our markets are now in growth and that our rate of market share gain has increased.
"We are confident that our long term strategy of focusing on key accounts, Insites and cross selling throughout Europe to drive profitable market share gains remains sound and that Brammer will continue to enjoy growth levels significantly ahead of the market."
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