Power cord maker Volex reported a drop in profit, in what it described as a challenging first half, however it remains confident of meeting full year expectations.
The electrical, digital and optical connections provider said pre-tax profit fell to $2.2m for the 26 weeks ended Sept 30th compared to $10.4m the same time a year earlier. Revenue for the period fell 8% to $249.3m.
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Net debt fell to $4.6m from $11.9m a year earlier while the interim dividend has been increased to 2 cents from 1.5 cents the year before.
CJ
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