Volex is proving to be resilient to the current economic turmoil. The full year FY20 trading update allows us to upgrade our FY20 PBT from $29.7m to $31.5m (despite forecast revenues being 3% lower than forecast), and to leave our FY21 estimate for PBT unchanged at $34m. Moreover, the March 2020 net cash position of $31.7m is materially ahead of expectations of $23m following improved working capital management. Thus, when combined with an undrawn facility of $30m, Volex has access to substan
16 Apr 2020
Upgraded PBT and cash estimates for FY20
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Upgraded PBT and cash estimates for FY20
Volex plc (VLX:LON) | 287 14.4 1.8% | Mkt Cap: 521.2m
- Published:
16 Apr 2020 -
Author:
Andy Smith -
Pages:
4
Volex is proving to be resilient to the current economic turmoil. The full year FY20 trading update allows us to upgrade our FY20 PBT from $29.7m to $31.5m (despite forecast revenues being 3% lower than forecast), and to leave our FY21 estimate for PBT unchanged at $34m. Moreover, the March 2020 net cash position of $31.7m is materially ahead of expectations of $23m following improved working capital management. Thus, when combined with an undrawn facility of $30m, Volex has access to substan