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Nov 20 2024, 07:00 GMT
Volex
Small upgrades plus a look at the TT Electronics offer
- Sectors : Capital Goods
- Companies : Volex
DAVY VIEW
Volex delivered a solid set of interims on November 15th, with revenues +9.7% organic (+30.4% in total) and the EBITA margin comfortably within the targeted 9-10% range. As a result, we are putting through upgrades to FY25E adjusted PBT of 1.6%. However, a second, arguably more eye-catching, statement was released by the company on the same day – a possible offer for TT Electronics (TTG). Whether a deal goes through or not, we can see the rationale and keep our ‘Outperform’ rating.
