Volex – data centre supplier’s shares on the move, up 10p today to 490p, with so much more to come

Mark Watson-Mitchell – 07.04.2026

This morning Volex (LON:VLX) confirmed that it is going to move its listing from AIM to the Main Market of the London Stock Exchange, targeting admission before Tuesday, 4^th August, which could make it eligible for the FTSE 250 Index.

Concurrently, the near £900m-capitalised company has launched a share buyback program to return up to £40m to shareholders.

The group will also host a Capital Markets Event on Wednesday, 22^nd April to present new medium-term growth targets.

The Business

Volex is a driving force in integrated manufacturing for mission-critical applications and a global leader in power and data connectivity solutions.

Its diverse operations support international blue-chip customers in five key end-markets: Electric Vehicles, Consumer Electricals, Medical, Complex Industrial Technology and Off-Highway.

Headquartered in the UK, it orchestrates operations across 23 advanced manufacturing facilities, uniting 13,000 dynamic individuals from 25 different nations.

Its products are marketed through localised sales teams and authorised distributor partners, supporting Original Equipment Manufacturers and Electronic Manufacturing Services companies across the globe.

In a world that grows more digitally complex by the day, Volex customers trust it to deliver power and connectivity that drives everything from household essentials to life-saving medical equipment.

Latest Trading Update

As SQC Research reported on Wednesday, 25^th March, the group issued a strong trading update for its year to end-March, with full-year revenue expected to be at least $1,220m, significantly exceeding market expectations, and underlying operating margins anticipated to be above the 9-10% target range.

That outperformance was primarily driven by high demand for data centre products, with revenues in that segment expected to double from the prior year's $118m, fuelled by AI applications.

Broker Views

Analysts Henry Carver and Caroline de La Soujeole, at Singer Capital Markets, upgraded their estimates for sales, profits and earnings, after the Update – while also increasing their Buy rating on the group’s shares to a Target Price of 610p (580p).

They are now looking for the end-March results to show sales of $1,220.6m ($1,086.5m), with adjusted pre-tax profits of $103.1m ($83.4m), earnings of 42.0c (34.7c) and paying out a dividend per share of 7.75c (4.50c).

For the current year, they see $1,263.8m sales, $106.5m profits, 43.4c earnings and a dividend of 8.00c.

SQC Research View

The re-rating of Volex is still underway, and the possible Main Market move should speed up that process, especially as Index-tracking fund managers swing into action.

The group’s shares, now at 490p,

Volex- aerospace in action

The group’s shares, now at 490p, offer so much more to go for this year and next.

(Profile 10.11.25 @ 365p set a Target Price of 450p*)