Stockbuilding ahead of Christmas has helped power cord and interconnect cable maker Volex deliver decent half-year figures. Chief executive Ray Walsh says that he remains confident, despite the current market turmoil, and has therefore reinstated the group's half-year dividend pay-out.
IC TIP:
Hold
at
270p
This stockbuilding activity has boosted the core consumer business in particular, which generates 63 per cent of group sales – revenues here soared 12 per cent in the period to $169.9m (£106.2m). Plans are now in place to extend relationships with existing premium customers, too, including Apple, HP and Sony, in order to cross-sell other cable and power-related products.