Highlights

  • In H1, revenues is expected to exceed USD 575m with 11% organic growth across five end-markets.
  • Operating profit margin remains within upper half of Board’s 9-10% target range.
  • Structural demand, diversified customers, and capability investments underpin Board’s confidence in returns.

Volex plc (LSE:VLX) has released an update for the six months period ending on 30 September 2025. The Group reported revenues expected to exceed USD 575m, with organic growth of at least 11% during the period.

Performance by End-Market

Electric Vehicles experienced year-on-year growth, driven by a diverse range of products and customers. In contrast, demand in the medical segment was subdued as customers evaluated healthcare and research spending and adjusted inventory levels.

Consumer Electricals revenues remained similar to H2 FY2025 but were lower on an organic basis compared with H1 FY2025. Off-Highway achieved growth, supported by a one-off customer project completed in the first half. Complex Industrial Technology also increased significantly, with data centre demand showing a notable rise relative to H1 FY2025.

Margin and Operational Discipline

"Our consistent margin delivery validates the Group's ability to navigate regional cost pressures whilst balancing continued investment in capacity and capabilities to support our customers' evolving needs," stated management.

The Group highlighted the impact of global tariff-related trading changes as an opportunity. Collaboration with key customers reconfiguring production footprints is strengthening relationships and improving competitive positioning. Some new programme launches in Complex Industrial Technology and Electric Vehicles have been temporarily deferred due to manufacturing relocations, with deliveries expected in FY2027 and beyond.

Outlook for Second Half

The company anticipates 2H revenues to be like the 1H. Management also noted: "With a strong balance sheet, significant undrawn facilities and access to funding, the Group is well-positioned to pursue value-accretive acquisitions that meet our investment criteria."

a diversified customer base, structural demand in key markets, and continued investment in capability expansion support the board’s confidence in delivering returns for stakeholders. The full-year expectations remain same.

Share performance of WTB

The company is currently trading at GBX 373per share, up by 5.54% from its last close of GBX 354