Nat Rothschild’s comeback continues to go from strength to strength as Volex posts another strong quarter
Nat Rothschild’s comeback continues to go from strength to strength after Volex posted another strong quarter.
The power cord maker, where the 51-year-old is executive chairman and the biggest shareholder, said revenue grew 4.9 per cent in the first quarter, driven by sales to the electric vehicle sector.
Comeback: Nat Rothschild with his wife Loretta
Full-year profits are expected to be £54m.
Volex supplies Tesla, the largest producer of all-electric cars, and Volkswagen, and is now one of the world’s top three power cord makers.
Having been an investor since 2008, Rothschild took full operational control in 2015.
Through a spate of acquisitions, the share price has grown by 480 per cent to 303.5p since 2015, and his 24.5 per cent stake is now worth £120m.
It has a market cap of £497m. Famous for partying with the jet set early in his career, he is the heir to the fortune of Lord Rothschild, the City financier.
His career looked to be over as he was responsible for Bumi, the miner which fell apart in 2012 in a scandal, but analysts believe Volex could yet triple in size.