10 hours ago
Volex profits rise by a quarter as demand for its EV chargers soars
Profits at Lord Rothschild's cable manufacturing business rose by a quarter last year amid booming demand for its electric vehicle chargers.
Volex's financial performance was even better than bosses had flagged only a couple of months ago. That, along with an expectation that President Trump's trade war would have only a 'limited direct impact', sent its shares 55p, or 17.4 per cent, higher to 370½p in afternoon trading, a nine-month high.
Volex's roots can be traced back to Ward & Goldstone, a Mancunian maker of lamps, torches and kettles that was founded in 1892. It started using Volex as a brand name in the early 1900s but it was not until 1984 that the company's name was formally changed.
