UK's Volex expects H1 revenue to reach at least $710 mln
UK's Volex expects H1 revenue to reach at least $710 mln
Overview
UK power and data transmission maker's H1 revenue expected to reach at least $710 mln
On organic constant currency basis, revenue expected to grow at least 21% yr/yr
Company repurchased £16.9 mln of shares as part of ongoing buyback programme
Outlook
Company expects H2 revenue to be broadly similar to H1, excluding revenue brought forward
Volex expects FY2027 underlying operating profit towards upper end of market expectations
Company expects current trading conditions to continue across most end-markets
Result Drivers
BROAD END-MARKET GROWTH - Co said all end-markets saw year-on-year revenue growth in H1
AEROSPACE AND DEFENCE - Strong growth in aerospace and defence applications drove Complex Industrial Technology segment
EV CUSTOMER DEMAND - Co said increased share of largest EV customer's requirements boosted EV & Electrification revenue
Company press release: ID:nRSS4108Za
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
H1 Revenue |
| $710 mln |
|
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the electrical components & equipment peer group is "buy"
Wall Street's median 12-month price target for Volex PLC is GBp700.00, about 9.9% above its October 16 closing price of GBp637.00
The stock recently traded at 16 times the next 12-month earnings vs. a P/E of 16 three months ago
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)