RS Group sales surge 28 %

All three geographic regions grew sales. EMEA revenues, the largest contributor to the group surged to £1.58 billion from £1.28 billion year on year on what the company describes as “an increasingly engaged customer base.”

Deeper product availability and sales campaigns propelled the Americas sales to £719 million compared to £517 million last year. In Asia growth was hampered by the Shanghai lockdown. Revenues rose from £208 million to £256 million.

A limited electronics range and low Americas participation shackled the Group's own-brand RS PRO business to 19 % like for like growth.

Web revenue grew 30 % like for like and digital sales now make up 63 % of the Group's revenue.

Average order value has risen to £211 from £191 in 20/21.

Commented Lindsley Ruth (pictured), RS Group Chief Executive Officer, “This has been an exciting and successful year as we have continued to grow market share, improved our operating performance across all three regions and started to unite our teams under the RS Group brand. This is due to the hard work of our skilled and talented people as they have overcome significant challenges; I thank them all. Uncertainties remain and we are mindful of the ongoing difficulties many are experiencing and external headwinds our Group could face. However, we have continued to invest in our operations and develop our proposition. We are well positioned on our Journey to Greatness to drive stronger revenue and high-quality profitable growth to deliver significant sustainable value for all our stakeholders in making amazing happen for a better world.”

Strong trading is reported in the first seven weeks of 2022/23.