18th Apr 2023 10:31
Volex PLC - Basingstoke, England-based electronic components maker - Expects revenue for financial year ended April 2 to be at least USD710 million, up 16% year-on-year. In financial 2022, revenue was USD614.6 million. Underlying operating profit is expected to be at least USD66 million, up 17% from USD56.2 million. Says both revenue and underlying operating profit are ahead of market expectations.
Chair Nat Rothschild says: "I am delighted with the strong organic growth performance delivered by the business during the period. We continue to deliver against the long-term, strategic growth plan that we unveiled last year and I firmly believe that Volex's diverse global footprint, ongoing investment plans and reputation for excellence will continue to drive ongoing outperformance versus our competitors."
Back in November, Volex said pretax profit in the six months ended on October 2 was USD21.5 million, up 11% from GBP19.4 million the previous year. Revenue in the half rose to USD357.5 million from USD292.7 million, representing growth of 22% year-on-year.
Current stock price: 248.44 pence each, up 18% on Tuesday morning in London
12 month change: up 0.6%
By Xindi Wei, Alliance News reporter
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