Shares prices increased by a quarter at electronic components distributor APC Technology after it revealed the appointment of a new chief financial officer.

Art Russell jas joined the Strood-based company from helicopter firm Avincis group, where he oversaw its £1.6 billion sale to FTSE 100 defence and engineering giant Babcock International.

With 25 years’ experience in senior finance positions, he has spent 10 years at Canadian private equity company NorTerra Inc, where he was senior vice president and chief financial officer.

Shares in APC Technology jumped £2 to £9.75 yesterday following the announcement of his appointment.

The firm, which is listed on the AIM market of the London Stock Exchange, said it had received £7.2 million of bookings in the first half of the year, up 28% on last year, its best performance since 2011.

Bookings of £1.8 million in February were the highest ever recorded in a single month as customers put in orders for embedded computer boards and it bagged an export contract.

APC Technology chief executive Richard Hodgson said: “It is very reassuring to see the continuing recovery in the component distribution order book and the future cash flow stability that brings to the group.

“This follows on from a difficult 2015 in terms of bookings and shows the potential we have in that business with the products and customers we service.

“I am also very pleased to welcome Art to the group as our chief financial officer.

“He brings with him a wealth of experience from his time working in diverse and larger organisations and I’ve no doubt he will make a major contribution to the professionalisation of the group as we focus on cash generation, profit and growth.”