Last checked at 7 Oct 2009 07:00
7th October 2009
VOLEX GROUP plc
Trading Update
Volex Group plc today announces a trading update for the six months to 4th October 2009.
Revenues from continuing operations have increased in the second quarter as compared to the first quarter of this year. However, external market conditions continue to be challenging and revenues for the first half remain significantly down on prior year in constant currency terms. At reported rates the drop was exacerbated further by year on year currency movements, primarily the strengthening of the US dollar.
Against this difficult market backdrop, Volex has maintained market share and increased gross profit margins while maintaining tight control over operating costs and cash flow management.
Given current economic conditions the Board continues to take a prudent view of the company's short term prospects but remains comfortable with previous full year guidance on the trading outlook for the twelve months to 4th April 2010.
Interim results for the 6 months ending 4th October 2009 will be announced on Tuesday 3rdNovember 2009.
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| Volex Group plc | |
| Ray Walsh, Group Chief Executive | +44 20 3370 8833 |
| Andrew Cherry, Group Finance Director | +44 20 3370 8833 |
| Weber Shandwick Financial | |
| Terry Garrett / Nick Dibden / Katie Matthews | +44 20 7067 0700 |