Volex reveals resilient Q4 trading
By BFN News | 09:23 AM | Thursday 12 April, 2012
Volex reveals trading in the final quarter of FY2012 remained resilient despite continuing economic uncertainty.
Consumer revenue for the final quarter was in line with the same period last year, while year-on-year revenue growth in the Healthcare sector was again in excess of 20%.
Telecoms/Datacoms revenue in the quarter continued to be affected by reduced spend by telecoms operators while trading in the Industrial sector, as predicted, largely recovered from the customer destocking experienced in Q3 FY2012.
Consequently overall Q4 FY2012 Group revenue was down slightly on the same period last year, but still up almost 6% for the year as a whole.
Despite significantly increased investment in capital expenditures and other areas of the business, cash generation continues to be strong with a net cash position again reported at the year end, ahead of market expectations.
Whilst economic conditions are expected to continue to be challenging in FY2013, the Board is confident that on-going investments, particularly in the areas of sales, operations and technology, will enable the business to deliver continued growth in revenues, margins and profit in line with management's expectations.
Results for the year ended 1 April 2012 will be announced on Tuesday 29 May 2012.
At 9:23am: (LON:VLX) Volex Group share price was +6.13p at 261.13p
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