Share Name Share Symbol Market Type Share ISIN Share Description
Volex Plc LSE:VLX London Ordinary Share GB0009390070 ORD 25P
  Price Change % Change Share Price Shares Traded Last Trade
  7.00 6.48% 115.00 74,460 11:45:16
Bid Price Offer Price High Price Low Price Open Price
114.00 116.00 115.00 105.00 105.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Electronic & Electrical Equipment 229.75 4.99 3.14 32.3 166
Last Trade Time Trade Type Trade Size Trade Price Currency
11:30:28 O 1,000 115.3001 GBX

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Date Time Title Posts
30/3/202018:56Volex 2013 : Plug in for recovery ?3,384
05/10/201716:34It's flying!2
18/7/201409:59VOLEX - double your money and take it away1,297
14/11/201310:36Volex : plugged for continuing improvement in 2011 ?791
17/2/201101:08VOLEX in 2010 : electronics recovery opportunity928

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Volex Daily Update: Volex Plc is listed in the Electronic & Electrical Equipment sector of the London Stock Exchange with ticker VLX. The last closing price for Volex was 108p.
Volex Plc has a 4 week average price of 80p and a 12 week average price of 80p.
The 1 year high share price is 171.50p while the 1 year low share price is currently 80p.
There are currently 143,948,557 shares in issue and the average daily traded volume is 283,879 shares. The market capitalisation of Volex Plc is £165,540,840.55.
acefromspace: Shanklin. Always remember why you invested in the long run. Unless you think this virus will destroy the world it's a short term issue. Nothing about this investment has changed other than a slow down in production. If your a short term trader then selling might be a good thing as it may be volatile for a while but overall the business will drive the share price in the long run. You may still be proved correct but if not you may have missed out on a multi bagger in time.
valhamos: Shanklin - I think we get the message. You have said a couple of times you have "no idea" about the impact. There is clearly greater short term uncertainty which means short term risk. This increases share price volatility as short term investors protect their positions. However that creates opportunities for others to exploit based on the long term prospects for the company which have not changed.
imastu pidgitaswell: Right, after eight years and an awful lot of buying, up to 300,000 of these at prices down to 35p at one point, I have finally disposed of my last set. Been quite a ride and at times I have despaired given the various clueless sets of management And my own failure to realise how bad they could get. Made a reasonable return and it could’ve been more if I’d held all 300,000 until the current prices, but I’m very, very pleased to be out. It has taken a long time for even the current management to gain traction in terms of product, location, legacy issues and frankly share price. Right now I finally feel that the risk reward is relatively flat. There is clearly potential for more upside given the windfall is that is electric car cabling. But there is also the execution risk of being able to deliver profitable implementation of this and the other aspects, and the price could be (not is, could be) vulnerable given that the historic track record and also how much successful implementation is already priced in. The other major factor in these is just the simple liquidity issue, it’s very hard to get rid of significant quantities once problems set in and I just don’t want that risk anymore after all these years. Frankly I’m staying well clear of AIM stocks from hereon, and will just continue with the FTSE 100 and 250 stocks primarily. I wish you all well and if there’s one thing I would advise this is do not ever go in too heavily on these or any other small stock.
bbluesky: Still cheap as chips (with divi to come). In a lot of interesting areas - a big supplier of the innards of car charging points is just one and a potential beneficiary of Merkels "1m car charging pointsin Germany by 2030". Been treated as a power plant supplier with thin margins and hence low pe (historic), when it is New Wave. IMV long, long way to go. V smart strategy, which has been paying off for a while. In Downing's words "there are numerous positive catalysts for the share price over the short term." I would add medium and long term to that. They are already a significant global player, but recognition on AIM can take a while!
red ninja: Comment on Volex in Downing Micro Cap Investment Trust half year Report :- "Volex PLC (Volex) (13.67% of net assets) Cost: £4.78m. Value as at 31 August 2019, £5.43m. Update to the investment case •Volex continues to perform well ahead of our expectations •Jeffrey Jackson appointed as a non-executive director •Acquisitions of Servatron and Ta Hsing •Refinancing of the group's US$30 million revolving credit facility •Management continue to buy shares Progress against investment case Volex announced a positive set of financial results in June, following the transformational placing undertaken last year. Progress is continuing in improving operating margins across divisions. Power cords reported 6.7% operating margins, having been around 2% since new management took over and cable assemblies reported operating margins of 7.8%. We are confident that management will achieve the respective targets of 8% and 10%. We believe that organic growth is recovering, alongside an active acquisition strategy with Ta Hsing and Servatron being the most recent purchases. In our view, the shares remain significantly underappreciated, granted, there is some uncertainty around US and China tariffs, but Volex has mitigating strategies in place. The business is growing organically; it is able to grow inorganically at a reasonable price, and; it is generating considerable cash, with over $10 million of free cash flow in the second half of 2019 alone. Finally, management expect to be able to return to the dividend list at the interim and we expect a maiden distribution for the year of three cents per share. We think that there are numerous positive catalysts for the share price over the short term."
glasshalfull: Hi folks, Tweeted the undernoted this morning HTTPS:// - Doesn’t format as well in the post below VLX (Volex PLC) Been banging the drum🥁 on this one recently following 4 UPGRADES in FY19 😁 I spoke with Daren Morris, CFO last week & came away super impressed at the turnaround & investment proposition which is sumarised below, with main POSITIVES & NEGATIVES in my opinion👇 7995; VLX (VOLEX PLC) * Share Price 91p * M/Cap £134m * Enterprise Value £115m (Using H1 net cash of $24.9m or £19m) * Shares in Issue 147.4m * Stock Rank 94 ✅ FY19e (31-Mar-19) * Revenues $369m * Adj PBT $21m * Net Cash $24.9m at 30.09.18 (end H1 2019). March 2019 trading update indicated cash only fallen marginally in H2 to $18.4m (-$6.5m) despite VLX paying $16.5m acquiring GTK in Dec 18 - therefore $10m net fee cashflow in H2 FY19 * EPS 12.5c or 9.6p * Estimate PER 9.5 for FY19 & PER 8.1 for FY20 * EBIT Margin 5.7% * EV/ EBITDA x4.7 * Dividend Yield 2.2% (reinstated dividend, based on 2c) Positives * 4x earnings upgrades in FY19 through trading “ahead” statements & a bolt-on acquisition & only on prospective PER of 9.5 for FY19 & PER 8 for FY20 :- Date FY19e FY20e News 18.06.18 10.0c 10.8c Liberum forecasts 31.07.18 10.7c (+7%) 11.7c (+8%) AGM “ahead” RNS 09.11.18 11.1c (+4%) 13.6c (+16%) H1 results 12.12.18 11.5c (+4%) 14.3c (+5%) GTK acquisition 28.03.19 12.5c (+9%) 14.7c (+3%) FY19 “ahead” RNS Overall +25% earnings upgrade in FY19 & +36% upgrade in FY20 * Strong PBT growth of +90% in FY2019 & estimated growth of +40% in FY2020. * Highly Cash Generative with growing net cash balance. Forecast to deliver a strong FCF Yield of 5.5% in FY2019 which will rise by +89% in FY2020 for a FCF of 10.4%. Volex is throwing off cash which is expected to increase by +$15m in FY2020 & +$20m in FY2021. * Rising Margins from 5.2% FY18 to 7.1% FY21. * Dividend reinstated and forecast at 2.1% yield FY19 & 3% yield in FY20. * Cable Assembly business (46% of Volex) is higher margin & growing strongly due to the requirement for high-speed date transmission cables (Data centres) & growth in cabling for healthcare & robotics. EBIT margins are forecast to rise from 7% in FY19 to 9.5% in FY2020. * Likelihood of further earnings accretive acquisitions. 3x bolt-on acquisitions in FY19 have not only resulted in earnings upgrades but offer opportunities for the company to benefit from procurement savings; acquire new customers; cross sell products; enter new markets & new geographies and help focus them on becoming a “one stop shop” to customers. * New Customer wins include Amazon, TESLA, Johnson Controls, BOSE, WIK (German) and somfy (French) as the company continues to develop innovative products & move into new sectors. Negatives * Power Cord Division (54% revenues) has experienced lower revenues in recent years as it’s largest customer in this division, Apple, continues to decline per forecasts. Despite this reduction, the growth in ELECTRIC VEHICLES is mitigating this reduction via a ramp up in power cords. Discounting Apple, organic revenues grew in Power Cords by +10% in H1 FY19. Op margins are forecast to remain stable at c.8% through to FY21, with profitability also stable. Worth noting the Cable Assembly side of the business is forecast to overtake this division next year in terms of turnover, profitability & op margins. * Strong Competition, as noted, “competition is intense though management has taken the decision to focus on customers who value a premium product/service and value factors other than price. In addition, Volex has started to expand into new sectors and engage in M&A activity where it can take greater market share.” * US v China Trade war fears with US imposing 10% tariffs on VLX’s goods made in China & destined for the US. HOWEVER, as their brokers have noted, “Volex’s global footprint allows for a large degree of flexibility and the reduction in activity at the Shenzhen facility due to the decline at Power Cord’s largest customer [Apple] means that Volex has effectively reduced capacity in China at an opportune time. Customers are currently war-gaming different trade war scenarios, and although ultimately any Duty is incurred by the customer, there is an opportunity for Volex to gain share if customers are able to rely on its global footprint and flexibility, especially against the domestic Chinese manufacturers.” * Customer concentration. The top 3 customers account for 30% of sales ALTHOUGH this is down from 50%. The company have worked hard to expand their customer base through selective acquisition, winning new contracts & expanding into new High-Speed & Interconnect markets which offset the decline & previous concentration in Apple (see Power Cord Division comment above) * Copper prices account for 40% of costs in POWER CORDS market. Worth noting that the spot price has remained fairly stable & still below 3.00 S/lb it stood at a year ago. On 11.04.19 = 2.89 $/lb. Important to note that ALL sales contracts which involve copper have clauses allowing for quarterly adjustments. Kind regards, GHF
1fox1: There is no reason for the drop. There were nice chunky buys yesterday too. You'll see I'm right. I notice the share price is already bouncing back nicely.
krobertson878: No the best last few days for the share price, I hold and have every faith.
davr0s: I hold but certainly wouldn't add to a falling share price - been a bit of volume behind the drop which you have to take note of. It's a reasonable distance from my stop still so letting it play out but wouldn't be shocked by some sort of news in the coming days
robow: Telegraph Questor - 2 shares for Inheritance Tax portfolio od AIM shares Volex Volex makes power cords and cable assemblies for use in electronics and electrical devices. The business goes back 120 years and this perhaps accounts for some of its past problems: it operated in commodity-type markets at a time when low-cost competition from automated Chinese rivals put profit margins under pressure. Management and strategic changes were tried but all “failed to capitalise on the firm’s competitive strengths”, said Nick Hawthorn of Downing, whose firm holds Volex in its IHT portfolio. “Investors lost heart and its market value fell significantly,”; he added. New managers are now in place. “Where previous teams invested in chasing low-quality revenue and earnings growth, the new one focuses on operational and supply chain excellence and profitable growth,” Hawthorn said. Volex now plays to its strengths in areas such as cable assemblies for use in data centres and healthcare, where the work is labour intensive and quality is critical. “It is focusing on the opportunities against which Chinese automation can compete least effectively,” the fund manager added. He also pointed to the alignment of interests between the new managers and investors: the former own more than 25pc of the equity – shares they have paid for, not acquired via options. Hawthorn said Volex had market-leading attributes in global sourcing and production, significant investment in capital assets, a skilled and global workforce, blue-chip customers and a long-standing reputation for quality. “We believe these qualities create an economic ‘moat’ and a position of strength in the highly fragmented industry in which it operates,” he said. The shares trade at about 10 times forecast earnings – low for a stock whose organic growth is expected to be about 10pc a year. “We think Volex has now turned a corner, posting its first statutory profit since 2012,” Hawthorn said. “The turnaround has been well executed and there are great opportunities to profitably grow the business. This has yet to be reflected in the share price. We think Volex is one of the most attractive opportunities at the smaller end of the Aim market.” Questor says: buy Ticker: VLX Share price at close: 82.6p
Volex share price data is direct from the London Stock Exchange
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