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Volex - Trading ahead of expectations

May 2023

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • VLX
  • Price:
  • 281.5p
The shares began a long climb back after two upgrades. Big news was Volex said it had won an additional contract from a US producer of electrical vehicles (read:Tesla) for advanced power products (on car connectors) for EVs from its manufacturing facility in Tijuana, Mexico. Annualised revenues from this contract will exceed US$30m, with full production starting in FY24. HSBC says, “In the EV space alone, we expect Volex to now show elevated average sales growth of ~25% in the next three years.” Earlier in the month, Volex had already said it expects to report profits ahead of expectations, not just from EVs but also medical equipment and complex industrials (automation, defence and datacentres). For the year just ended, revenue a ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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