Volex plc (VLX.L), the global provider of electrical, digital and optical connections, issued its trading update for the year to March 31, 2013 in advance of preliminary results that may be announced on May 29, 2013. Revenues and operating profits for the full year are expected to meet market view.
Net debt at March 31, 2013 was less than $20 million. The Group-wide restructuring initiative, announced in September 2012, is proceeding to plan. Restructuring costs, which would be taken as an exceptional charge, are likely to be about $7 million.
The average of analyst forecasts, updated since the trading update on December 14, 2012, is $473 million in revenue and $11 million in operating profit for the year.
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