Volex shares plunge after profit warning

Electrical, digital and optical connections provider Volex said it expects revenue and profit for the year ending 31st March 2013 to fall short of previous company expectations after an unexpected change in demand from its largest customer in the consumer sector.

Electrical, digital and optical connections provider Volex said it expects revenue and profit for the year ending 31st March 2013 to fall short of previous company expectations after an unexpected change in demand from its largest customer in the consumer sector.

"These lower growth expectations are driven primarily by a delay in product launches and a change in product component strategy by our largest customer," the group explained.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free
https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up
MoneyWeek

MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.