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
  5.00 2.93% 175.50 56,725 16:35:16
Bid Price Offer Price High Price Low Price Open Price
170.50 174.50 175.00 171.50 171.50
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Electronic & Electrical Equipment 315.37 12.78 7.98 22.6 267
Last Trade Time Trade Type Trade Size Trade Price Currency
17:05:31 O 286 173.993 GBX

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Date Time Title Posts
23/9/202013:33Volex 2013 : Plug in for recovery ?3,506
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 170.50p.
Volex Plc has a 4 week average price of 167p and a 12 week average price of 126.50p.
The 1 year high share price is 191.50p while the 1 year low share price is currently 80p.
There are currently 152,250,802 shares in issue and the average daily traded volume is 102,277 shares. The market capitalisation of Volex Plc is £267,200,157.51.
reddevils1: As outside investors in UK shares, we never quite know the full story about what’s going on inside the companies we own. That’s why I think director buying can be such a valuable sign. If an insider wants to spend their own cash on the stock, they must feel good about the future. What I’m looking for is the real deal — one or two directors spending at least £100,000 buying their own shares. I reckon I’ve found just such a company today. The business in question is a small-cap stock whose executive chairman has just spent £825,000 on shares. This UK share has doubled in two years The company concerned is Volex (LSE: VLX), a £250m British firm that’s been in business for more than 100 years. Volex makes power cords and cabling assemblies for a range of markets. These include consumer electronics, data centres, medical equipment, factories and — more recently — electric vehicles. The Volex share price has doubled over the last two years and has been a strong performer during the market crash. The stock is up by nearly 20% so far in 2020, compared to a 20% fall for the FTSE 100. Despite this recent growth, I think there’s more to come from this UK share. Volex’s growing focus on higher-value products such as electric vehicle wiring suggests to me that sales and profit margins could rise significantly.
wapper: Well done Volex. Steady as we go . Should see a move up in share price now.
imastu pidgitaswell: I listened to the AGM and slides, also read the Q&A. Very good performances by the two of them, and very open in answering all the questions - they gave a fair bit more nuance and detail than the summary written Q&A suggests. Still have the same views of a few posts ago on some of the specifics in the results, but I have always been very cautious about growth stocks, especially given the pandemic - that means I have missed out on a lot, but at least not lost. But it is clearly a very different company than it was when they came in as executive management, and it takes time to turn things around - they were not wrong when they indicated that previous management really did not understand their business and their markets; having held all throughout those desperate years, I know how bad it was - but the underlying basics kept me in, not to mention a lot of hope. The basic physics doesn't change - power, and in many ways nor does the manufacturing process management - but it's the ability to execute manufacturing well and take good strategic decisions on both the supplier side and the customer side that can go wrong, and did. I have a lot of admiration for what they have done in very difficult circumstances, from a very bad starting position. In many ways I wish they could have done that presentation a couple of months earlier - I get it now, and think they will be fine - but the share price has doubled from the lows. It is probably going to go further, and continue rising if they don't go wrong - but I still think I see even better value elsewhere at the moment. But quite prepared to say I could be very wrong.
imastu pidgitaswell: It might be 'cos I was one minute late. Anyway your share price is doing well - enjoy...
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
Volex share price data is direct from the London Stock Exchange
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