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Last checked at 
7 Oct 2009 07:00
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7th OctoberΒ 2009
VOLEX GROUP plc
Trading Update
Volex Group plc today announces a trading update for the six months toΒ 4thΒ October 2009.
RevenuesΒ from continuing operationsΒ have increasedΒ in the secondΒ quarterΒ as compared to the firstΒ quarterΒ of this year. However, external market conditions continue to be challengingΒ andΒ revenuesΒ for the first halfΒ remainΒ significantlyΒ downΒ on prior year in constant currencyΒ terms. At reported rates the drop wasΒ exacerbatedΒ furtherΒ by year on yearΒ currency movements, primarily theΒ strengthening of the US dollar.Β
Against thisΒ difficult market backdrop,Β Volex has maintained market share and increased grossΒ profit margins while maintaining tight control over operating costs and cash flow management.Β
Given current economic conditionsΒ the BoardΒ continues to takeΒ a prudent view of theΒ company's short term prospectsΒ butΒ remainsΒ comfortable with previousΒ full yearΒ guidanceΒ onΒ the trading outlookΒ forΒ the twelve months to 4thΒ April 2010.
Interim results for the 6 months ending 4thΒ October 2009 will be announced on Tuesday 3rdNovember 2009.
-Β ENDΒ -
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Volex Group plc |
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Ray Walsh, Group Chief Executive |
+44 20 3370 8833 |
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Andrew Cherry, Group Finance Director |
+44 20 3370 8833 |
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Weber Shandwick Financial |
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Terry Garrett / Nick Dibden / Katie Matthews |
+44 20 7067 0700 |
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