VOLEX plc (VLX.L) posted a decline in 2012 pre-tax profit to $19.21 million from $20.31 million a year ago.
Profit attributable to owners was $17.18 million or 29.4 cents per share, higher than a year earlier.
Normalised gross margin was up to 19.8%, from 18.8% in the previous year. This margin growth helped to increase normalised operating profit to $32.0 million, an improvement of 23% over last year, despite important investments, particularly in the sales, operations and technology functions.
Group revenue for the year increased 6% to $517.77 million, primarily driven by the Consumer and Healthcare sectors.
Looking forward, the company enters full-year 2013 with good trading momentum and is well-positioned to generate continued growth in revenues, margins and profit, in line with management's expectations.
Further, the Board is proposing a final dividend of 3 cents per share, increasing the full year dividend to 4.5 cents, to be paid after obtaining shareholder approval at the AGM on 26 July 2012.
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by RTT Staff Writer
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