RS celebrates strong first half revenue and profit performance

This outperformance is driven by the strength of RS employees, a purpose-led culture, and its differentiated proposition

RS, a trading brand of RS Group plc (LSE: RS1), a global omni-channel provider of product and service solutions, has released its half-year report, reflecting a strong revenue and profit performance in the first half of the business year. This outperformance is driven by the strength of its diverse and experienced employees, and a high-performance, purpose-led culture. It also showcases how RS' broad and deep product offerings differentiate them and continue to resonate with stakeholders in spite of challenging economic times.

This year, trading in Asia Pacific was affected by a slower electronics market, reduced availability of single-board computing products, a challenging geopolitical backdrop and lockdowns resuming in China. Despite this, RS' operating profit margin rose by 16.4% in Asia Pacific thanks to scale growth and tighter commercial focus.

"Our people are the most powerful drivers of success at RS. They're behind our improved customer experience and elevated commercial focus this year, and are dedicated to making amazing happen for a better world," says Sean Fredericks, President, Asia Pacific at RS, "Despite expected challenging economic conditions ahead, we're committed to investing in our people and technologies. We're positive that we'll be able to further strengthen our position, grow our profits and take greater market share in the year to come."

Investing in its people and creating a safe, inclusive, and dynamic culture have always been top priorities for RS. It has invested in inclusive and relevant employee benefit programmes and are providing one-off payments to all employees to financially support them during these challenging economic times. To thank employees for their continued support and contribution, RS has also introduced a share-based award, allowing employees to share in the success of the company in accordance with its Journey to Greatness plan. 

In an employment engagement survey conducted this year, RS' employee engagement score improved by three points from last year, rising to 78, and placing it close to the upper quartile of top performing companies. 

On top of investing in its people, RS is also committed to acting as a responsible and sustainable business. Following its 2030 ESG action plan - For a better world - it is now reporting on its key eight metrics every six months to ensure accountability and continued progress in this respect. RS was awarded a Platinum medal, the highest ranking, by independent global sustainability rating provider, EcoVadis, for its notable leadership in the areas of environment and sustainable procurement.

All these accomplishments in the first half put RS one step closer to achieving continued success in the coming months.

RS

RS is a trading brand of RS Group plc (formerly Electrocomponents plc), a global omni-channel provider of product and service solutions for designers, builders and maintainers of industrial equipment and operations. They stock more than 700,000 industrial and electronic products, sourced from over 2,500 leading suppliers, and provide a wide range of product and service solutions to over 1.2 million industrial customers.

For more information about RS, please visit the website at https://au.rs-online.com/web/.