Strong First Half Revenue and Growth
Volex reported first half revenues of $584 million, representing an organic growth of 13% despite challenging macroeconomic conditions.
Operating Margin Achievement
The company achieved an operating margin of 9.8%, which is at the top end of their target range of 9% to 10%.
Growth in Electric Vehicles and Data Centers
Strong growth was noted in the electric vehicles sector and data centers, with data center revenue up by 80% compared to the previous period.
Expansion and Investment in North America
Volex is opening a new site in Central Mexico and doubling its capacity in this area to support North American operations.
Increase in Earnings per Share
Basic earnings per share increased by 30% to $0.197 per share on an adjusted basis.