Volex Group PLC
10 March 2008
10 March 2008
Volex Group plc
Trading Update
Volex Group plc, the global electrical and electronic cable assemblies company,
is providing a further update on recent trading for the year ended 30 March
2008.
During recent weeks, we have seen a decline in order levels and customers'
revenue forecasts, in particular in the Wiring Harness division and in the North
American Power Products market. In addition, we are continuing to incur higher
than expected costs in Wiring Harness as noted in our announcements of 29
January and 15 February.
In Interconnect, caution amongst some of our customers has seen some delays to
the award and ramp up of new programmes. We remain confident that we will see
further revenue growth from this division in the next financial year as our
focus on expanding our technology offering to key customers gains momentum.
As a result of the lower than expected order levels, trading since our last
update has deteriorated further and we do not now expect to be profitable in the
second half of this financial year.
We are cautious about the outlook for the coming financial year. We expect to
benefit from our strategy of gaining market share with existing key customers
and make further progress in focussed revenue growth. However, there remains
uncertainty over future impacts of volatile commodity prices, in particular
copper and oil, and in global consumer demand.
Volex Group plc 01925 830 101
Heejae Chae, Group Chief Executive
Ian Degnan, Group Finance Director
This information is provided by RNS
The company news service from the London Stock Exchange
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