The Volex Plc Board has proposed a final dividend of 2.8p per ordinary share that will be paid on 30 August 2024 to shareholders on the register on 26 July 2024. The ex-dividend date will be 25 July 2024.
Other financial highlights:
Group revenue increased by 26.3% to $912.8m (FY2023: $722.8m)
Underlying operating margin increased by 50 bps to 9.8% (FY2023: 9.3%) comfortably within the target range of 9-10%
Year-end net debt covenant leverage maintained at 1.0x with strong cash generation partly offsetting borrowings used to fund acquisitions
Murat Ticaret Kablo Sanayi A.S. ("Murat Ticaret") acquired for total consideration of $196m, accelerating the five-year plan and facilitating launch of Off-Highway as fifth end-market to further diversify the business
Further investment of $8m in increasing capacity and delivering major new customer programmes in key locations to support future growth
Successful refinancing post year end providing $600m of long-term debt facilities on improved terms to support growth opportunities
