Volex's performance in the first quarter has been in line with management's expectations and the new, five-year growth plan, according to a trading update posted on Friday morning.
AIM-listed Volex, which supplies power products and integrated manufacturing services, grew revenues by 4.9%, reflecting positive customer demand despite a challenging supply-chain macro environment.
Integration of this year’s acquisitions continues to progress, auguring well for a strong acquisitional pipeline going forward.
Diversification remains a guiding strategy for Volex, with an end market comprising industrial technology, electric vehicle, consumer electrical and medical segments allowing for cross-selling and vertical integration opportunities.
Full-year underlying profit guidance is US$62.8mln with a top range of US$64mln.
The company's annual general meeting is being held today (Friday August 19) at 16:00 BST (+1 UTC).