- Dividend increased
- Data centres stoking demand
Shares in cable manufacturer Volex (VLX) wobbled after it reported lower demand for electric vehicle (EV) components. Organic EV sales – previously a key driver of growth – decreased by 16 per cent in the six months to October as a result of “short-term customer destocking”.
The consumer electrical division also saw organic sales fall by 9 per cent due to “normalisation of demand” post-Covid and lower copper and PVC costs, which forced Volex to reduce the price of its products.