Cable firm in profit

Jul 24 2008 by Alistair Houghton, Liverpool Daily Post

CHESHIRE cabling specialist Volex says rising revenues have helped it return to operating profitability.

The Warrington company, which held its AGM yesterday, said revenues had risen 14.8% in the 16 weeks to July 20, compared to the period last year.

Chairman Mike McTighe said the group had cut its debts and secured an extra £2m finance facility to give it added flexibility.

In March, Volex reported a full-year pre-tax profit of £1.7m, compared to £6.7m the previous year.