Volex PLC AGM Statement and Trading Update (1764H)
30 Luglio 2019 - 10:12AM
UK Regulatory
TIDMVLX
RNS Number : 1764H
Volex PLC
30 July 2019
30 July 2019
Volex plc
("Volex" or the "Company")
AGM and Trading Update
Volex, a global supplier of complex assemblies for performance
critical applications 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 2019:
"I am pleased to report that trading for the first quarter has
been strong, with group revenue increasing 12 per cent versus the
prior year - 14 per cent on a constant currency basis - yielding an
operating profit margin ahead of current expectations, reflecting
both previous actions to improve the profitability of our core
business, and the successful integration of MC, Silcotec and
GTK.
As already reported, our global footprint allows us to mitigate
the effect of US tariffs on Chinese manufactured goods as we move
production of certain products from China to other locations such
as Vietnam and Indonesia. We have secured a number of new major
contract wins in our PVC power business as our strategy to invest
in automation, vertical integration and standardised products
improves our competitiveness in the market.
The board has recommended that an interim dividend in respect of
the year ending 5 April 2020 of 1 pence per share will be paid
following the announcement of our interim results in November
2019.
Volex is well positioned to make further progress this year and
the board remains confident about the Group's outlook."
The information contained within this announcement is deemed by
the Company to constitute inside information under Article 7 of the
Market Abuse Regulations (EU) No. 596/2014. The person responsible
for arranging the release of this information is Mr Daren Morris,
CFO of the Company.
Enquiries
For further information please contact:
Volex plc +44 7909 995 887
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
Whitman Howard - Joint Broker +44 20 7659 1234
Hugh Rich
Nick Lovering
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END
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