Premier Farnell chief's low note

In her last set of results before Harriet Green leaves electronic parts distributor Premier Farnell to run Thomas Cook, the company unveiled fast slumping profits and revenues for the first quarter.

Pre-tax profits for the period tumbled by 13.3 per cent to £20.9m as the economic uncertainty dragged down sales by 5 per cent to £241m.

"Global quarterly sales per day have been maintained at a stable level since the decline in the global electronics and technology markets that impacted us in June last year," Laurence Bain said.

Mr Bain took up the chief executive reins on Tuesday, although Ms Green does not depart for her new job until 29 July.