Impressive update | Quality returns
News covered in our update here includes an impressive trading update from an investment manager, although the share price didn’t move, while the quality returns from another company belie its modest rating. There was also positive news for one of our recent Stonking Small Cap opportunities. Read on here for this and other news. (Free to read)
Volex reassures and the shares fly Shares in Volex (AIM: VLX), the manufacturer of critical power and data transmission products, soared 20% following a reassuring update for its financial year ending 2 April 2023. Volex has being doing nicely from the growth in electric vehicle sales as a supplier of power cords and plugs for these. Revenue for the year is now expected to be at least US$710m, an increase of at least 15.5% on the prior year, with operating profit expected to be at least US$66m, at least 17.4% higher than the prior year. Both are nicely ahead of consensus estimates for revenue of…