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Volex finance boss increases stake

(SHARECAST) – Andrew Cherry, finance director of Volex Group, has purchased 600,000 ordinary shares at 25p each for a total of £150,000.

Cherry has been in the position at the power cords and cable assemblies supplier since February 2009.

He previously held a number of financial executive positions at companies including SpinVox, Vodafone UK, Cable & Wireless Jamaica and GoIndustry.

Cherry holds an MBA from Kellogg Graduate School of Management and is a Fellow of the Institute of Chartered Accountants of England and Wales.

On 2 November, Volex announced a 43 percent jump in revenues to £157m for the half year to October, while pre-tax profit soared from £1.7m to £7m.

Following this purchase, Cherry holds total conditional share awards over 905,623 ordinary shares. In addition, he holds 41,765 ordinary shares.

 

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