26th Feb 2016 11:39
LONDON (Alliance News) - Volex PLC said Chief Financial Officer Daren Morris bought 20,000 shares at a price of 41.9 pence per share on Friday.
Following this transaction, Morris holds a total of 230,000 shares representing 0.25% of the issued share capital.
The power and data cabling provider on Friday said weak demand has continued into the second half and its revenue will miss expectations for its financial year to April 3.
The company said demand had been slow in the first half, and this continued into the second half, exacerbated by lower-than-anticipated orders from a key customer for both existing and new products.
The stock was down 11% at 39.84p Friday, less than half its 52-week high of 88.75p.
By Arvind Bhunjun; [email protected]; @ArvindBhunjun
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