RS Shares Bounce On Takeover Speak
RS Group shares rose 5 % on Monday morning following a report in The Occasions {that a} takeover bid was within the works.
In keeping with The Occasions the bid can be value £15 a share and worth RS at £7 billion. The bidder’s title will not be disclosed.
In its newest buying and selling replace issued in July, RS reported like for like income progress of 18 % in Q1.
Its industrial merchandise vary which symbolize about 73 % of Group income, grew like for like gross sales by 21 %.
The EMEA area posted gross sales up 16 % in a sixth consecutive quarter of income progress. The Americas income rose 24 % in Q1, and Asia-Pacific gross sales superior 13 %.
Personal model enterprise RS PRO grew like for like revenues by 21 %.
Net revenues grew 20 % like for like in Q1.
RS Group has been lively itself within the acquisition area, shopping for domnick hunter-RL (Thailand) Co. Ltd., a number one distributor and repair supplier of main air compression, purification and filtration merchandise in Thailand, for c. £10 million in June, and to strengthen its proposition in Asia/Pacific.
Earlier this month it acquired Risoul, a family-owned distributor of commercial and automation product and repair options in Mexico, for £228 million.
