Electrocomponents PLC US Tax Legislation (7770A)
January 03 2018 - 1:00AM
UK Regulatory
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
This information is provided by RNS
The company news service from the London Stock Exchange
END
DOCDLLFBVFFEBBF
(END) Dow Jones Newswires
January 03, 2018 02:00 ET (07:00 GMT)
Rs (LSE:RS1)
Historical Stock Chart
From Apr 2024 to May 2024
Rs (LSE:RS1)
Historical Stock Chart
From May 2023 to May 2024