28th Mar 2019 09:57
LONDON (Alliance News) - Volex PLC on Thursday said it will resume paying a dividend in the coming financial year, as trading continues to be "ahead of market expectations" and it guided for revenue to rise more than 13% in the current year.
Shares in the company, which supplies cable assemblies, were trading 7.2% higher at 89.64 pence each.
For the financial year ending on Sunday, the company expects revenue above USD365 million, up 13% from USD322 million a year ago.
Furthermore, assuming that trading "continues to perform in line with expectations", the company said it intends to resume paying dividends with the 2020 financial year. It hasn't paid a dividend since one for financial 2012.
"The board remains excited about the company's ability to drive shareholder value, and our team continue to actively look for new opportunities to grow our business and technical capabilities," Chair Nat Rothschild said.
The company will publish its annual results on June 13.
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