Business
Preliminary Group Results
Preliminary Group Results.
About this update from Volex Plc
[{"type":"text","content":"\n \nRNS Number : 0392C Volex PLC 13 June 2019 \n\n \n \n \n13 June 2019\nVolex plc\nPreliminary Announcement of the Group Results\nfor the 52 weeks ended 31 March 2019\n \n\"We continue to diversify our customer base and execute our strategy to be a stable, long-term and trusted partner to our clients. The recovery at Volex continues.\"\nVolex plc ('Volex'), a global provider of power and data cabling solutions, today announces its preliminary results for the 52 weeks ended 31 March 2019 ('FY2019').\n \n\n\n\n\nFinancial Highlights\n\n\n52 weeks to\n31 March 2019\n\n\nYear on year change\n\n\n52 weeks to\n1 April 2018\n\n\n\n\nRevenue\n\n\n$372.1m\n\n\n15.4%\n\n\n$322.4m\n\n\n\n\nUnderlying* operating profit\n\n\n$21.6m\n\n\n87.8%\n\n\n$11.5m\n\n\n\n\nStatutory operating profit\n\n\n$13.0m\n\n\n47.7%\n\n\n$8.8m\n\n\n\n\nUnderlying* profit before tax\n\n\n$20.2m\n\n\n108.2%\n\n\n$9.7m\n\n\n\n\nStatutory profit before tax\n\n\n$11.6m\n\n\n65.7%\n\n\n$7.0m\n\n\n\n\nStatutory profit after tax\n\n\n$9.2m\n\n\n135.9%\n\n\n$3.9m\n\n\n\n\nBasic earnings per share\n\n\n6.9c\n\n\n56.8%\n\n\n4.4c\n\n\n\n\nUnderlying diluted earnings per share\n\n\n12.7c\n\n\n42.7%\n\n\n8.9c\n\n\n\n\nNet cash (note 8)\n\n\n$20.6m\n\n\n108.1%\n\n\n$9.9m\n\n\n\n\n* Before adjusting items and share-based payments charge (see note 3 for more details)\n \nSummary\n· Revenue growth of 15.4% including $44.8 million contribution from acquisitions\n· Underlying operating profit increased by 87.8% to $21.6 million\n· Statutory profit after tax increased by 135.9% to $9.2 million\n· Net cash of $20.6 million as at the year end\n· Gross margin has improved to 19.8% in FY2019 from 17.4% in FY2018\nManagement expects to announce the reinstatement of a dividend at the time of the interim results in November 2019.\nThe Executive Chairman of Volex, Nat Rothschild, commented:\n\"Over the past year we have continued to deliver on our stated strategy to refresh our customer base and grow our business with both new and existing customers. This has resulted in a significant increase in profitability at Volex, and our group is now in a much stronger position than it has been for many years.\nWe have made three successful acquisitions during th...