Companies: ABU   

The electronic component distributor posted a strong performance at the interim stage to 31 March 2001, but it warned that the US and European slowdown was already hitting trading. Profits before tax and goodwill were lifted by 56% to £10.5m on sales boosted by 54% to £108.3m. Organic growth was strong, with sales excluding acquisitions up 19% and profits raised by 46%. Abacus was awarded the 'Texas Instruments' franchise in partnership with Rutronik in Germany and its Micromark subsidiary is launching with Philips Semiconductors in the UK. Abacus made three acquisitions during the period, together contributing £24.3m of sales and profits of £1m. Trident, which manufactures and distributes electronic displays, and C&CD, its distributor of electro-mechanical components, 'performed to expectations'. However, Silicon Concepts, which designs and supplies semiconductor products, was affected by a 'reversal of fortunes' in the telecoms industry. Analysts downgraded profit forecasts from £21.9m to £18m for the full year and the shares slipped by 42.5p to 267.5p.