14 April 2011 – trading update

An encouraging trading statement from the global electrical and cable assemblies group Volex, covering the three months to 3 April, has revealed that revenues have remained at high levels, significantly higher than the same period last year.  This trading momentum has been maintained in each of its four sectors – telecoms/datacom, healthcare, consumer and industrial.  Although the group has suffered from input price increases, it has successfully managed to pass these on thus maintaining gross margins.  The group expects to meet current market expectations for the financial year which ended on 3 April whilst it has a healthy order book as it starts the new financial year.  With the benefit of new product launches the group expects to make further progress in 2011/12 and we continue to rate the shares a LONG TERM BUY.