Oxford, UK, 3 March 2017 – Electrocomponents plc (LSE: ECM), the global distributor for engineers, received the Turnaround of the Year Award at the national PLC Awards 2016 gala dinner and ceremony, which took place last night at The Grosvenor Hotel in London.
The Turnaround of the Year Award is judged by a panel of leading institutional fund managers and investment brokers. The category encompasses companies that have completed the most innovative turnaround of the year in a way likely to save or substantially improve the business and offer the prospect of the creation or enhancement of substantial shareholder value in the future.
Electrocomponents embarked on its turnaround programme with the aim of improving the customer and supplier experience, driving an accountable and high-performance culture and striving for operational excellence through simplification and operating for less.
Lindsley Ruth, CEO of Electrocomponents, said: “We’re absolutely thrilled to win this prestigious award. The journey to transform our business has already delivered improved results for our shareholders, customers and suppliers. We have accelerated growth and improved profitability and this award is testament to the commitment, hard work and vision of so many people across our business. We have taken a major step forward but we will not rest on our laurels and are excited about the significant potential for further improvement and growth.”
The PLC Awards is now in its 31st year, having been held every year since its inception in 1987. The event, which has become firmly established as “the” City event of the year, is held annually, every March, at the Grosvenor House Hotel. The PLC Awards recognise success and achievement amongst publicly quoted companies in the UK.
Kevin Burrowes, Executive Board Member, Clients and Markets Leader, PwC; Bruce Garrow, Head of Corporate Broking, Canaccord Genuity; Lindsley Ruth, CEO, Electrocomponents plc (winner); and Naga Munchetty (awards presenter).
About Electrocomponents plc
Electrocomponents plc is the global distributor for engineers. With operations in 32 countries, we offer more than 500,000 products through the internet, catalogues and at trade counters to over one million customers, shipping more than 44,000 parcels a day. Our products, sourced from 2,500 leading suppliers, include electronic components, electrical, automation and control, and test and measurement equipment, and engineering tools and consumables.
RS Components and Allied Electronics are the trading brands of Electrocomponents. The Group is listed on the London Stock Exchange and in the last financial year ended 31 March 2016 had revenues of £1.29bn.