Business
Preliminary Results
Preliminary Results.
About this update from Volex Plc
[{"type":"text","content":"\n \nRNS Number : 5965H Volex Group PLC 01 June 2011 \n \n\n \nFor immediate release 1 June 2011\n \nVOLEX GROUP PLC\nPreliminary Announcement of the Group Results \nfor the Financial Year ended 3 April 2011\nVolex Group plc (\"Volex\"), the global provider of customised electrical and optical interconnect solutions, today announces its preliminary results for the financial year ended 3 April 2011.\nFinancial Highlights\n· Revenue up 38% (35% at constant currency) to £316.0m (FY2010: £229.0m)\n· Normalised operating profit(i) up 64% on prior year, at £16.8m (FY2010: £10.3m)\n· Profit before tax up 89% to £13.1m (FY2010: £6.9m)\n· Normalised diluted earnings per share(ii) (EPS) up 130% to 20.9p (FY2010: 9.1p). Basic EPS of 18.9p (FY2010: 9.3p)\n· Working capital as a % of sales improved to 14.5% from 15.6% in FY2010\n· Net debt reduced to £4.6m at 3 April 2011 (4 April 2010: £7.6m)\n· Resumption of dividend - dividend of 2p per ordinary share proposed\n· Debt refinancing completed, securing a new 4 year US$75m committed facility with a further US$150m pre-negotiated for potential acquisitions\n(i) Normalised operating profit is defined as operating profit before share-based payments\n(ii) Normalised earnings per share is defined as earnings per share before share-based payments\nOperat...