Volex PLC (AIM:VLX) slipped 7% to 253p after it published half year results, with the shares having spiked ahead of the numbers - a case of the old stock market maxim 'buy the rumour and sell the news'.
The supplier of manufacturing services and power products reported a 22% rise in revenue for the six months to 2 October, along with a 15.6% rise in pre-tax profit and an 8.3% hike to the interim dividend to 1.3p per share.
It also revealed that net debt tripled to US$117mln from US$40mln, with US$7.5mln of that increase resulting from acquisitions completed last year.