Volex plc (VLX.L) expects increased demand for its products and as a result it sees fiscal 2013 revenues to be ahead of prior expectations. However, the board is confident that the full-year profit would be in line with management's view, with higher investment costs being offset by profit generated from higher than anticipated revenues on programmes already underway.
Also, the company reported revenue of $123.9 million, in line with the previous year and 2% ahead of the earlier quarter. Operating profit totaled $3.1 million, down 55% over last year, mainly as a result of these production capacity and capability costs and further investments in its sales, engineering and operational functions ahead of the anticipated revenue growth.
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by RTT Staff Writer
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