IN BRIEF: Volex jumps as it sees annual results above expectations
20th Apr 2022 12:28
Volex PLC - Basingstoke, England-based electronic components maker - Expects revenue and underlying operating profit for the financial year that ended April 3 to be ahead of consensus market expectations. Expects revenue in excess of USD605 million, up 37% from USD443 million the year before and 4.1% above the company compiled consensus of USD581.2 million. Anticipates underlying operating profit to be in excess of USD55.0 million, up 28% from USD42.9 million a year prior and 1.5% above the company complied consensus of USD54.2 million. Attributes this to strong demand with greater visibility of forward orders, as well as a significant contribution from the Electric Vehicles sector, where revenue has almost doubled. Read More