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502.00 -3.00 (-0.59%)

Bid:

501.00

Ask:

506.00

Spread: 5.00 (0.998%)

Market Cap: £925.05m

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Volex powers forward

Tue, 12th Jan 2010 10:35

Shares in power products group Volex were on a charge Tuesday morning after the company said it may meet or beat expectations for the trading year to 4 April.Volex said revenues in the three months to 3 January had continued the upward trend seen in the preceding quarter, albeit only to a modest degree. Revenue in the Interconnect business was 'essentially flat' but the Power Products division continued its upward momentum.The group's continued focus on operating costs resulted in further improvements in gross margins, enabling Volex to post higher operating profits in its third quarter than it did in the second year.The board remains cautious about the short term prospects for the company but noted that the order book remains in a healthy state.