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Volex PLC on Thursday upped its dividend and expressed optimism around trading in its new financial year, as it posted a 45% rise in annual profit. The Hampshire, England-based maker of power and data transmission products reported $93.4 million in pretax profit for the financial year ended March 31, climbing 45% from $64.3 million a year prior. Driving the improved earnings was a 14% top-line expansion, as revenue grew to $1.24 billion from $1.09 billion. The company said the growth reflects the ‘high demand’ for its high-speed data transmission products, as well as a ‘solid performance’ in the EV & Electrification and Off-Highway sectors. Volex noted these more than offset falls in Consumer Electricals and Medical. Volex proposed a final dividend of 3.2 pence per share, rising 6.7% from 3.0p a year prior. This brings its total dividend for the financial year to 4.8p per share, up 6.7% from 4.5p. The company said trading in the new financial year to date has been both ‘strong’ and in line with its expectations, citing ‘robust’ demand in key end markets and expressing confidence in delivering on its medium-term targets. These include revenue of $2 billion and an underlying operating margin of 12%. Volex reported an underlying operating margin of 10.2% for financial 2026, expanding from 9.8% and surpassing its prior target range of 9% to 10%. Volex also updated on Thursday on its plans to move to the Main Market of the London Stock Exchange from AIM. The company expects admission on July 24, with its shares to be cancelled from trading on AIM at the same time. Back in April, Volex said it was targeting admission to the Main Market prior to August 4. Shares in the company were down 0.4% at 579.62 pence on Thursday morning in London. They have risen 84% over the past 12 months. Chief Executive Nat Rothschild said financial 2026 represented an ‘outstanding year for Volex’, noting that the company enters the new financial year with ‘strong momentum, a more capable platform and a clear pathway towards our medium term targets’. ‘This performance reflects our diversified platform, the strength of our customer relationships, the breadth of our global manufacturing footprint and our ability to support category-leading customers in high-growth markets including Data Centres, Off-Highway and EV & Electrification,’ the CEO said. ‘Our technical expertise in complex, high-speed cable production and wire harness assemblies has made Volex an indispensable partner across a range of sectors and we are now deeply integrated into how our customers design and build their next-generation products.’ Copyright 2026 Alliance News Ltd. All Rights Reserved.
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