Volex plc (VLX.L), a power and data transmission products manufacturer, on Thursday reported first-half trading update with organic revenue growth expected to be at least 11%, and operating profit margin within the upper half of the outlook range. In addition, the Board's expectations for the full year remain unchanged.
On the London Stock Exchange, the shares were trading 5.37% higher at 373 pence.
Looking ahead, the company expects second-half revenues to be broadly similar to the first half, reflecting stable trading across most end-markets.
The firm is also confident in making further progress towards its five-year plan targets as it continues to demonstrate operational discipline, cost control and margin consistency .
In its first-half trading update, the company said its revenues are expected to exceed $575 million, reflecting the Group's product offering and long-standing relationships with blue-chip customers across five end-markets.
Operating profit margin for the first half is expected to remain within the upper half of the Board's through-cycle target range of 9 to 10 percent .
Electric Vehicles grew strongly year-on-year, and Complex Industrial Technology grew significantly. Meanwhile, Medical demand was subdued as expected, and Consumer Electricals revenue was down from last year on an organic basis.
The interim results are scheduled to release on November 12.
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