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Highlights
Revenue rose 12.7% year-on-year to USD 583.9 million, driven by 13% organic growth and an 80% increase in Data Centre sales.
Underlying operating margin sustained at 9.8%, near the upper end of the company’s target range.
Interim dividend increased by 6.7% to 1.6 pence per share.
Volex plc (LSE:VLX), a specialist manufacturer of power and data transmission solutions, today announced its half-year results for the period ended 30 September 2025, reporting double-digit revenue growth and sustained margins at the upper end of its target range. The Group reaffirmed its expectations for the full year, supported by continued operational efficiency and strategic execution.
Financial Performance and Strategic Progress
Group revenue rose 12.7% to USD 583.9 million, up from USD 518.2 million in the same period last year. Organic growth reached 13%, led by a significant 80% increase in sales from the Data Centres division. Underlying operating profit increased by 20.2%, while underlying basic earnings per share rose by 29.6%.
The company’s underlying operating margin remained steady at 9.8%, aligning with the upper end of Volex’s 9–10% target range. This performance was supported by productivity improvements and a focus on efficiency across its global operations.
Volex’s interim dividend rose 6.7% to 1.6 pence per share, reflecting the Group’s continued financial stability. The company also highlighted its ongoing investments in advanced manufacturing sites, enhancing customer choice and enabling cost optimisation through site rationalisation.
The Group’s first-half performance, combined with progress against its five-year plan.
Sector Performance
Growth varied across sectors, reflecting broader market trends. The Electric Vehicles segment recorded 13.1% organic growth, supported by an expanded product range and customer base.
The Consumer Electricals segment experienced a 6.3% decline due to strong prior-year comparisons, while Medical revenues decreased 9.9%, in line with reduced global spending on healthcare and research.
In contrast, Complex Industrial Technology achieved 48.2% growth, benefiting from rising demand for Data Centre products and contributions from other industrial clients. The Off-Highway sector grew 20.1%, driven by a one-time customer project completed in the first half.
Board Update and Outlook
During the period, Dave Webster was appointed as Non-Executive Chairman, bringing extensive experience from his previous leadership role at Electrical Components International (ECI).
Trading in the second half has remained steady, with revenue expected to be broadly consistent with the first half. Volex cited its diversified portfolio, manufacturing flexibility, and global presence as key advantages in navigating potential macroeconomic and tariff-related challenges.
The Board reaffirmed confidence in achieving full-year expectations and advancing the objectives set out in the company’s five-year plan.
About Volex
Volex is a global manufacturer of integrated power and data connectivity solutions. The company serves leading international customers across five sectors: Electric Vehicles, Consumer Electricals, Medical, Complex Industrial Technology, and Off-Highway.
