LONDON (ShareCast) - - Trading stabilised in final quarter
- Transformation plan starting to deliver results
- Expects full-year to be in line with targets

Shares of Volex the provider of electrical, digital and optical connections rose after it confirmed that trading had stabilised in the final quarter of 2013 and it expects full-year results will be in line with expectations.

"The Transformation Plan announced in November is on track and beginning to deliver results," the group said in a company statement.

Chief Executive Christoph Eisenhardt added: "While there is still work to be done to drive further the efficiency of our design, procurement and manufacturing processes, these early results demonstrate that the group's recently introduced strategy is already being successfully executed."

Volex, whose balance sheet was recently bolstered by a placing and secondary share sale in December, raising $11m in cash, added it was pleased with the continuing focus on improved execution and strengthening relationships with key customers.

Shares of Volex advanced 2.87% to 121.00p at 08:50 in London.

CJ

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