RS Group Achieves Impressive Financial Results

24 May 2023

Distribution heavyweight RS just posted its annual financial report. The company has witnessed a year-on-year revenue increase of 17%, reaching £2.98 billion, with its operating profit hitting £383 million (up 24% on last year).

These figures have been attained through a combination of organic growth and acquisition activity (most recently the purchase of Distrelec). 

“RS delivered a strong performance in 2022/23 despite a more challenging macroeconomic backdrop in the second half. This reflected our on-going operational excellence initiatives, geographical, industry and product mix, inventory availability and strong pricing. Together with the efforts of our people, this resulted in good financial results,” notes Simon Pryce, newly appointed CEO of RS. 

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