Volex builds profits during first half

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Volex builds profits during first half
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Volex (LON:VLX) has seen its share price rise by 4.41% to 88.86p (as of 15:00 GMT) after statutory pre-tax profits for the 26 weeks to 30th September climbed by 16.7%. This was due to both revenue growth and significant gross margin improvements.

Executive Chairman Nat Rothschild said: “I am pleased to report that the actions we have taken over the past two years are reflected in the solid financial results announced today. This progress has been made possible by a rejuvenated management team with a clear strategy focused on driving shareholder returns. As part of our future plans we intend to further enhance our senior management team through selective recruitment whilst further developing our factory teams with training and development programmes aligned to our growth objectives. Through careful planning, we believe we will return value to our shareholders“.

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