Volex (VLX)

Sector:

Electronic and Electrical Equipment

Index:

FTSE AIM 50

287.00p
   
  • Change Today:
      4.00p
  • 52 Week High: 335.00
  • 52 Week Low: 202.00
  • Currency: UK Pounds
  • Shares Issued: 181.62m
  • Volume: 561,114
  • Market Cap: £521.24m
  • RiskGrade: 228

Volex sees ongoing improved customer demand

By Josh White

Date: Thursday 29 Jul 2021

LONDON (ShareCast) - (Sharecast News) - Power products and integrated manufacturing company Volex said on Thursday that the levels of customer demand it experienced in the second half of the 2021 financial year had continued into the first quarter of 2022.
The AIM-traded firm, which was holding its annual general meeting, said performance in consumer electricals remained "very strong", with electric vehicle revenue continuing to grow, which the board said reflected its "leading position" in the sector.

Its medical and complex industrial technology customers were also experiencing a "healthy recovery" in areas where there had been reduced demand in 2021, due to challenges imposed by the pandemic.

DE-KA, the leading European domestic appliance power cord supplier, which was acquired in February, had 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," the board said in its statement.

"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."

Volex said cash flow in the first quarter had been "robust" which, combined with its balance sheet strength, provided the company with the financial flexibility to advance further opportunities from its acquisition pipeline.

"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 expectations."

At 1610 BST, shares in Volex were up 4.82% at 356.4p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Volex Market Data

Currency UK Pounds
Share Price 287.00p
Change Today 4.00p
% Change 1.41 %
52 Week High 335.00
52 Week Low 202.00
Volume 561,114
Shares Issued 181.62m
Market Cap £521.24m
RiskGrade 228

Volex Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
64.72% below the market average64.72% below the market average64.72% below the market average64.72% below the market average64.72% below the market average
17.65% below the sector average17.65% below the sector average17.65% below the sector average17.65% below the sector average17.65% below the sector average
Price Trend
44.00% above the market average44.00% above the market average44.00% above the market average44.00% above the market average44.00% above the market average
58.97% above the sector average58.97% above the sector average58.97% above the sector average58.97% above the sector average58.97% above the sector average
Income
49.75% below the market average49.75% below the market average49.75% below the market average49.75% below the market average49.75% below the market average
46.67% below the sector average46.67% below the sector average46.67% below the sector average46.67% below the sector average46.67% below the sector average
Growth
39.15% above the market average39.15% above the market average39.15% above the market average39.15% above the market average39.15% above the market average
82.35% above the sector average82.35% above the sector average82.35% above the sector average82.35% above the sector average82.35% above the sector average

What The Brokers Say

Strong Buy 3
Buy 2
Neutral 0
Sell 0
Strong Sell 0
Total 5
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Volex Dividends

  Latest Previous
  Interim Final
Ex-Div 30-Nov-23 20-Jul-23
Paid 10-Jan-24 25-Aug-23
Amount 1.40p 2.60p

Trades for 28-Mar-2024

Time Volume / Share Price
14:33 1,000 @ 286.78p
14:30 2 @ 287.00p
14:29 3,135 @ 286.80p
14:28 150 @ 286.85p
14:26 4,680 @ 286.75p

Volex Key Personnel

CFO Jon Boaden

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