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Volex PLC - Basingstoke, England-based electronic components maker - Expects revenue and underlying operating profit for the financial year that ended April 3 to be ahead of consensus market expectations. Expects revenue in excess of $605 million, up 37% from $443 million the year before and 4.1% above the company compiled consensus of $581.2 million. Anticipates underlying operating profit to be in excess of $55.0 million, up 28% from $42.9 million a year prior and 1.5% above the company complied consensus of $54.2 million. Attributes this to strong demand with greater visibility of forward orders, as well as a significant contribution from the Electric Vehicles sector, where revenue has almost doubled.
‘We have delivered an excellent performance in a challenging environment and are now well ahead of the five year plan we set out in October 2019,’ Executive Chair Nat Rothschild comments.
Current stock price: 292.65 pence, up 18%
12-month change: down 14%
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