Last checked at 19 Apr 2010 07:00
For immediate release 19 April 2010
VOLEX GROUP plc
Trading Update
Volex Group plc, a leading global provider of power products and interconnect cable assemblies today announces a trading update for the three months to 4 April 2010.
The previously reported upward trend in revenue continued during the final quarter of the year, with fourth quarter revenue slightly ahead of the third quarter. Most of the revenue growth was generated from the Consumer focussed power products business, with the trading momentum gained in Q3 retained in Q4. Encouragingly, trading in our Telecoms/Datacoms and Healthcare sectors in Europe and North America showed signs of improvement with increasing sales pipelines and order levels. This has more than offset the adverse impact of telecommunications operators delaying network infrastructure rollouts in India and China.
Operating profit in the fourth quarter was also greater than in the third quarter and full year operating profit will be in line with market expectations for the twelve months to 4 April 2010.
As a result of the above progress, the year end net debt has fallen further , in line with market expectations.
Results for the year ended 4 April 2010 will be announced on Tuesday 1 June 2010 and the Annual General Meeting will be held on Wednesday 14 July 2010.
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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
Buchanan Communications
Charles Ryland / Jeremy Garcia / Jennie Spivey +44 20 7466 5000