Volex takes a £4 million hit as Apple goes green

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Apple is the biggest customer of Volex, 23%-owned by billionaire financier Nat Rothschild, which makes the power cables and USB leads used in everything from laptops to iPhones and iPads.

But the US firm is on a drive to move its products towards halogen-free power cables, which are less harmful to the environment when disposed of.

The start-up costs in designing and making the new cables will cost it up to $6 million in the current financial year, Volex said today, although, stripping out these one-off costs, profits will be in line with market expectation.
The shares slipped 3p to 221.9p.

The firm, which also makes fibre optic cables for telecoms firms, is confident of further revenue growth.