RNS Announcement

RNS Number:7002P Volex Group PLC 10 March 2008 10 March 2008 Volex Group plc Trading Update Volex Group plc, the global electrical and electronic cable assemblies company, is providing a further update on recent trading for the year ended 30 March 2008. During recent weeks, we have seen a decline in order levels and customers' revenue forecasts, in particular in the Wiring Harness division and in the North American Power Products market. In addition, we are continuing to incur higher than expected costs in Wiring Harness as noted in our announcements of 29 January and 15 February. In Interconnect, caution amongst some of our customers has seen some delays to the award and ramp up of new programmes. We remain confident that we will see further revenue growth from this division in the next financial year as our focus on expanding our technology offering to key customers gains momentum. As a result of the lower than expected order levels, trading since our last update has deteriorated further and we do not now expect to be profitable in the second half of this financial year. We are cautious about the outlook for the coming financial year. We expect to benefit from our strategy of gaining market share with existing key customers and make further progress in focussed revenue growth. However, there remains uncertainty over future impacts of volatile commodity prices, in particular copper and oil, and in global consumer demand. Volex Group plc 01925 830 101 Heejae Chae, Group Chief Executive Ian Degnan, Group Finance Director This information is provided by RNS The company news service from the London Stock Exchange END