Volex PLC AGM Statement (5286U)
30 Luglio 2020 - 08:00AM
UK Regulatory
TIDMVLX
RNS Number : 5286U
Volex PLC
30 July 2020
30 July 2020
Volex plc
("Volex" or the "Company")
Volex AGM Statement
Volex plc (AIM:VLX), the global supplier of integrated
manufacturing services and power products, is today holding its
Annual General Meeting, during which the Executive Chairman, Nat
Rothschild, will make the following statement on trading for the
three months ended June 2020:
"I would like to thank all of our employees for their hard work
and dedication through a very difficult period for the global
economy. Their efforts have allowed us to keep operating throughout
the period, supporting our customers' requirements across the
globe.
Unaudited revenue for the three months ended June 2020 was $96
million, which was flat on the same period a year earlier. Given
the disruption caused by the global coronavirus pandemic, we are
very pleased with this result. Operating profit remains at a
similar level to the prior year, and our cash balance as at 24 July
was $30 million. Our $30 million revolving credit facility remains
available and undrawn.
As noted in our results statement on 18 June 2020, we continue
to see weakness primarily in the medical installation sector, as
hospitals around the world remain closed for non-critical medical
procedures. In our electric vehicle business, demand is approaching
pre-crisis levels as customers re-open their factories and consumer
preference continues to shift towards electric vehicles. We
continue to see resilient demand in our consumer electronics and
data centre businesses.
Today, shareholders approved the payment of a final dividend of
2 pence per share. Volex continues to be profitable and highly cash
generative, and we look forward to making further progress during
the rest of the year whilst remaining vigilant to the ongoing
macro-economic risks."
For further information please contact :
+44 7909 995
Volex plc 887
Nat Rothschild, Executive Chairman
Daren Morris, Chief Financial Officer and Company
Secretary
N+1 Singer - Nominated Adviser & Joint Broker +44 20 7496 3000
Shaun Dobson
Iqra Amin
P anmure Gordon - Joint Broker +44 20 7886 2500
Hugh Rich
Nick Lovering
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END
AGMKKCBNABKDKOB
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July 30, 2020 02:00 ET (06:00 GMT)
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