The Volex Board has declared an interim dividend of 1.5 pence, an increase of 7.1% on the previous year, and remains committed to a progressive dividend policy, striking a balance between delivering growth through investment and returning cash to shareholders.
The interim dividend will be paid on 9 January 2025 to those shareholders on the register on 29 November 2024. The ex-dividend date will be 28 November 2024.
Other financial highlights include:
Group revenue increased by 30.4% to $518.2m (H1 FY2024: $397.5m) including strong organic growth of 9.7% with notable increases in Electric Vehicles and Consumer Electricals sales
Continued to invest in incremental capacity and delivering major new customer programmes in key locations to support future growth, in line with the plans set out at the full year presentation
Underlying operating margin maintained comfortably within the target range
Period-end net debt covenant leverage in line with last year following growth investments in H1 FY2025
Considerable integration activity continuing in Türkiye, delivering productivity improvements as well as price increases being rolled out to offset inflationary employment cost
Continued progress towards the five-year plan, supported by a strategic investment programme expanding capacity and capabilities
