Electrocomponents PLC US Tax Legislation (7770A)

TIDMECM

RNS Number : 7770A

Electrocomponents PLC

03 January 2018

ELECTROCOMPONENTS PLC

Impact on Electrocomponents from new US tax legislation

Electrocomponents plc notes the approval of the new US tax legislation and Jobs Act. We continue to work through the full impact of these changes on Electrocomponents and will give more detailed guidance on the impact of these changes at our final results in May.

For the year to 31 March 2018 we currently anticipate that the announced changes will have minimal impact on the Group effective tax rate, which we have previously guided will be in line with the H1 effective tax rate of 28%. However, we expect that the changes will result in a non-cash exceptional tax credit as a result of the revaluation of deferred tax balances.

For the year to March 2019 we currently anticipate that the changes will reduce the Group effective tax rate percentage to the mid-twenties.

 
 Enquiries: 
                                                    0207 239 
 David Egan               Group Finance Director     8400 
                          Head of Investor 
                           Relations & Corporate    0207 239 
 Polly Elvin               PR                        8427 
 Martin Robinson/David                              020 7353 
  Allchurch               Tulchan Communications     4200 
 

LEI: 549300KVXDURRKVW7R37

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January 03, 2018 02:00 ET (07:00 GMT)