Volex sales climb despite strong headwinds

Shares in Volex (VLX) sank by 6 per cent after the cable maker published its full-year results. Investors were spooked by the 10 per cent decline in organic revenue reported by the electric vehicles (EV) division, and the 7.6 per cent fall in consumer electricals sales. Destocking in North America and Asia was largely to blame, according to management.