Good afternoon and welcome to the Volex PLC Annual General Meeting. For this recorded meeting, attendees will be in listen-only mode. Questions are encouraged and they can be submitted at any time using the Q&A tab situated on the right-hand corner of your screen. Simply type in your questions and press send. The company may not be in a position to answer every question received during the meeting itself. However, the company can review all questions submitted today and publish responses where it is appropriate to do so. I would now like to hand you over to the board of Volex PLC. Good afternoon.
Great, thanks, Alex. Good afternoon, ladies and gentlemen, and welcome to Volex PLC's 2025 Annual General Meeting. My name is John Bowden, Chief Financial Officer of Volex, and I will be chairing the Annual General Meeting, which I confirm is correct. Before we move to the items of business, I'm pleased to provide a brief update on trading for the first quarter of FY 2026, as announced this morning. Positive start to the financial year underpins full-year expectations. Volex has delivered a strong start to the new financial year, with the first quarter trading performance in line with management's expectations. The positive momentum outlined at the group's FY 2025 result has continued into FY 2026, despite uncertain macroeconomic conditions, reinforcing confidence in the strategy and outlook for the full year. Q1 FY 2026 constant currency organic revenue increased by 10.4% year-on-year.
This strong growth reflects the continued momentum in the electric vehicles and complex industrial technology end markets, notably among data center customers, as well as good growth in ONP Highway. Operational execution: We continue to collaborate closely with our global customers to support their supply chain relocation strategies, navigating the evolving tariff landscape with agility. As part of the ongoing integration of Murat Ticaret and the associated profitability enhancement initiatives, we have successfully closed one of the legacy sites acquired with the acquisition. All operations have been fully transitioned to other facilities within Turkey, with no disruption to customers. This site consolidation will improve customer service and deliver operational efficiencies. Outlook: The encouraging performance in the first quarter, coupled with a pipeline of commercial opportunities, underpins the board's confidence in Volex's ability to meet its FY 2026 expectations.
We remain well-positioned to make further progress towards the delivery of our five-year strategic plan and to drive continued value creation for shareholders. I would now like to move on to introducing the directors and officers of the company joining us today: Sir Peter Westmacott, our Senior Independent Director; Amelia Murillo, Jeffrey Jackson, and John Wilson, our Independent Non-Executive Directors; and Chris Bedford, our Group General Counsel and Company Secretary. Today's AGM is an opportunity for shareholders to express their views and to ask questions of the board. We, as your board, are committed to open dialogue with our shareholders and are pleased to have the opportunity during the meeting to engage with you. As mentioned in the notice of meeting, shareholders can submit written questions during the meeting, which the board will endeavor to answer.
We do ask that your questions relate solely to the items of business before the meeting. I will now move on to the formal business of this Annual General Meeting. The notice of AGM was sent to you on the 4th of July 2025. I propose to take the notice of Annual General Meeting as read. I will move on to the items of business before the Annual General Meeting, considering and, if thought fit, passing the resolutions, details of which are set out in the notice of meeting. Resolutions 1- 15 are ordinary resolutions and require a simple majority of the votes to be cast in their favor. Resolutions 16- 18 are special resolutions and require at least three-quarters of the votes to be cast in their favor. Today, all of the resolutions set out in the notice of AGM will be taken on a poll.
This is in line with current corporate governance standards. On a poll, votes may be given by members present in person, by representatives of corporate shareholders who are present, and by persons present as proxy for a shareholder. On a poll, each member present in person, by corporate representative or by proxy, is entitled to one vote for every share held by them or the shareholder whom they represent, as the case may be. A person entitled to more than one vote need not use all of their votes or cast all votes they use in the same way. Many shareholders have already sent in a proxy appointing me as Chair of the meeting to vote on their behalf. I will vote as they have instructed me.
If they have given me discretion as to how to vote, I shall be voting in favor of the resolution concerned on their behalf. All shareholders, proxies, and corporate representatives here today have received a poll card. I now propose the resolutions as set out in the notice of meeting, which, together with the proxy results received, are shown on the slides. I declare the poll open. The poll count for the resolutions put to the meeting today will be conducted by MUFG Corporate Markets, our registrars, and will be combined with the proxy votes already submitted. When those present in person have completed their poll card, they will find a ballot box at the exit of the room, where they can deposit their completed poll card.
The ballot box will remain in place for five minutes only after the close of the meeting, at which point the ballot box will be closed in order for the poll count to commence. The final results will be announced at the London Stock Exchange as soon as practicable following the conclusion of this meeting, and will also appear on our website. That concludes the formal business of the meeting. We will now take questions. Do we have any questions, Chris?
Not so far.
Since there are no questions, that concludes Volex 2025 Annual General Meeting, and the meeting is now closed. Thank you for joining us, and if you have any feedback on today's meeting, please do let us know.
Fantastic, John, and to the rest of the board, thank you ever so much for your time this afternoon. Could I please ask attendees not to close this session, as you will now be automatically redirected to provide your feedback in order that the board can better understand your views and expectations. This will only take a few moments to complete, and I'm sure will be greatly valued by the company. On behalf of the board of Volex PLC, we would like to thank you for attending today's Annual General Meeting, and good afternoon to you all.