RNS Number : 8356G
29 July 2021
("Volex" or the "Company")
Volex AGM Statement
Volex plc (AIM:VLX), the global manufacturer supplying power
products and integrated manufacturing services, is today holding
its Annual General Meeting.
At the meeting, Executive Chairman, Nat Rothschild, will make
the following statement on trading for the three months ended June
"I am pleased to report that the levels of customer demand we
experienced in the second half of FY2021 have continued into the
first quarter of FY2022 . Performance in Consumer Electricals
remains very strong and Electric Vehicle revenues continue to grow,
reflecting our leading position in this sector.
Our Medical and Complex Industrial Technology customers are also
experiencing a healthy recovery in areas where there had been
reduced demand in FY2021 due to challenges imposed by the
DE-KA, the leading European domestic appliance power cord
supplier, which was acquired in February this year, has continued
to trade well.
Against this continued, robust performance, we remain mindful of
the potential impact on trading caused by supply chain shortages,
material cost inflation and freight challenges, as well as the
ongoing operational issues posed by the Covid-19 pandemic.
We successfully passed through the copper price inflation
experienced earlier in the year and our global supply chain and
customer service teams remain focused on ensuring that we continue
to meet our customers' expectations.
Cash flow in the first quarter has been robust which, combined
with our balance sheet strength, provides us with the financial
flexibility to advance further opportunities from our acquisition
Overall, whilst still early in the year, the positive trends in
the first quarter lead the Board to expect to deliver full year
underlying operating profit slightly ahead of current market
(1) Latest company compiled view of market expectations shows an
underlying operating profit consensus of $50.0m with a range of
$48.9 million to $51.0 million.
This announcement contains inside information. The person
responsible for arranging the release of this announcement on
behalf of Volex plc is Christian Bedford, Group General Counsel
& Company Secretary.
For further information please contact:
Volex plc +44 (0) 7747 488 785
Nat Rothschild, Executive Chairman
Jon Boaden, Chief Financial Officer
Powerscourt - Media Enquiries +44 (0)20 7250 1446
Singer Capital Markets - Nominated Adviser and Joint Broker +44
(0)20 7496 3000
HSBC Bank Plc - Joint Broker +44 (0)20 7991 8888
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(END) Dow Jones Newswires
July 29, 2021 02:00 ET (06:00 GMT)
Grafico Azioni Volex (LSE:VLX)
Da Ago 2021 a Set 2021
Grafico Azioni Volex (LSE:VLX)
Da Set 2020 a Set 2021