27 Feb 2017 07:00
Volex plc
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Trading Update
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27 February 2017
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Volex plc ("Volex" or the "Group"), a global provider of power and data cabling solutions, today announces a trading update for the year ending 2 April 2017. Preliminary results will be announced by Volex on 8 June 2017.
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As stated at the time of our half-year results announcement in November 2016, year-to-date profitability has improved as compared to the prior year, in spite of the Group managing an anticipated decline in revenue from our largest customer.
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We expect that group revenue will be at the lower-end of guidance given at the time of the half-year results in November 2016 (guidance was in the range of $320 to $330million). However, operating profit (and operating margins) before non-recurring items are expected to be ahead of the prior year and in-line with market expectations.
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In addition, we have generated better than expected operating efficiencies from our restructuring actions, and expect to end the year in a net cash position.
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The Board expect to announce full year operating profits (before exceptional costs and share-based payments) in the range of $8.5 million to $9.0 million (prior year $7.2million) for the year ending 2 April 2017.
For further information please contact:
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Volex plc
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Nat Rothschild Executive Chairman +65 6788 7833
Daren Morris Chief Financial Officer +44 203 370 8830
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Liberum
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Steve Pearce / Steve Tredget +44 203 100 2000
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