Volex (VLX)

Sector:

Electronic and Electrical Equipment

Index:

FTSE AIM 50

288.00p
   
  • Change Today:
      5.00p
  • 52 Week High: 335.00
  • 52 Week Low: 202.00
  • Currency: UK Pounds
  • Shares Issued: 181.62m
  • Volume: 635,048
  • Market Cap: £523.06m
  • RiskGrade: 228

Volex reiterates guidance after 'strong' first quarter

By Josh White

Date: Friday 19 Aug 2022

LONDON (ShareCast) - (Sharecast News) - Power products and manufacturing services provider Volex said in a trading update on Friday that its first-quarter performance was "strong", in line with management expectations and its new, five-year growth plan.
The AIM-traded firm, which was holding its annual general meeting, said revenue grew by 4.9% organically, which it put down to positive customer demand and its ability to deliver in a "challenging" supply chain environment.

As it outlined in its full-year results in June, Volex said it was continuing to maintain high levels of utilisation across each region, with higher inventory levels than the previous year to support the timely delivery of complex products to customers.

Integration of the acquisitions made during the 2022 financial year was progressing well, with the company still developing a "strong" acquisition pipeline.

"The company's diverse end markets continue to support Volex's long-term strategic plans and afford the group a high degree of resilience," the Volex board said.

In electric vehicles, it reported continued revenue growth resulting from its investment to enhance capabilities and enable it to support a range of products for customers, while in consumer electricals, revenues were continuing to grow, reflecting an increasing market share through selling activity, as well as the delivery of new customer projects.

Demand from medical customers, meanwhile, was still "robust", and revenues were ahead of the previous year despite challenges due to the limited availability of components, while in complex industrial technology, demand in the firm's core business remained strong, and "next-generation" high-speed cable volumes were expected to increase as customers accelerated their technology replacement programmes.

"Management continues to focus on diversification, vertical integration and realising cross-selling opportunities across the business in order to deliver sustainable revenue growth," the directors of Volex said of the company's outlook.

"Overall, whilst still early in the year, the encouraging trends in the first quarter mean the board expects to deliver full year underlying operating profit in line with current market expectations."

At 1117 BST, shares in Volex were down 3.37% at 302.45p.

Reporting by Josh White at Sharecast.com.

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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 288.00p
Change Today 5.00p
% Change 1.77 %
52 Week High 335.00
52 Week Low 202.00
Volume 635,048
Shares Issued 181.62m
Market Cap £523.06m
RiskGrade 228

Volex Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
66.01% below the market average66.01% below the market average66.01% below the market average66.01% below the market average66.01% 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
46.97% above the market average46.97% above the market average46.97% above the market average46.97% above the market average46.97% above the market average
64.10% above the sector average64.10% above the sector average64.10% above the sector average64.10% above the sector average64.10% above the sector average
Income
49.56% below the market average49.56% below the market average49.56% below the market average49.56% below the market average49.56% below the market average
42.86% below the sector average42.86% below the sector average42.86% below the sector average42.86% below the sector average42.86% below the sector average
Growth
40.33% above the market average40.33% above the market average40.33% above the market average40.33% above the market average40.33% 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
16:35 26,950 @ 288.00p
16:35 1 @ 288.00p
16:35 202 @ 288.00p
16:35 203 @ 288.00p
16:35 203 @ 288.00p

Volex Key Personnel

CFO Jon Boaden

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