Buoyant trading at Volex

25th Jul 2011 07:51

Electrical, digital and optical connections provider Volex said trading in the first quarter of its financial year 2012 continued to be buoyant with revenue well ahead of the same period last year. For the three months to 3 July 2011 revenue rose 10% to £77.0m at constant currency and 2% on reported basis. Normalised operating profit increased 21% to £4.1m at constant currency and 3% on reported basis.The growth in year-on-year revenue was broad based, with all four of its sectors: Consumer, Telecom/Datacom, Healthcare, and Industrial reporting growth on a constant currency basis, said Volex.As expected the Japanese tsunami has not had a significant effect on results in the first quarter. "The group does not expect these events to have any material impact on trading during the rest of the year," it said in a statement. Net debt was £4.6m, unchanged from the end of the last financial year. ---CJ