Larry Tracey, the Chairman of power controller manufacturer XP Power, treated himself to 4,000 shares in the company, despite the company last month warning that the global economic environment remains weak for the equipment which they manufacture.
Tracey, who joined XP's board 22 years ago, bought himself £47,000-worth of shares at 1,175p each, increasing his stake in the company to 7.97%, equal to more than 1.5m shares.
In its April statement the company cautioned investors that it currently anticipates that 2012 will be a flat revenue year following the past two years of strong industry growth.
Start your trial of MoneyWeek today
Get unparalleled financial insight, analysis and expert opinion you can profit from.
Start your trial
Sign up for MoneyWeek’s free twice-daily newsletter.
Join more than 165,000 subscribers and keep yourself informed with latest financial news, insights and expert analysis to help you understand what really matters when it comes to your finances.
Join more than 165,000 subscribers and keep yourself informed with latest financial news, insights and expert analysis to help you understand what really matters when it comes to your finances.
The firm explained that because order intake in the first quarter of 2012 has been stronger than that experienced in the final quarter of 2011, it therefore expects stronger revenues in the second quarter of 2012, offsetting a 10% fall in revenues during the first three months of the year.
Latest Videos FromMoneyWeek
Top Director Buys
BG Group (BG.)
Director name: Mr Andrew F J Gould
Amount purchased: 30,000 @ 1,331.00p
Value: £399,300
Sierra Rutile Ltd (SRX)
Director name: Mr Jan Alex Castro
Amount purchased: 152,000 @ 60.75p
Value: £92,340
Beazley (BEZ)
Director name: Mr Dennis Holt
Amount purchased: 50,000 @ 141.00p
Value: £70,500
Sierra Rutile Ltd (SRX)
Director name: Mr Michael Brown
Amount purchased: 100,000 @ 58.80p
Value: £58,800
Cape (CIU)
Director name: Mr Brendan Connolly
Amount purchased: 8,450 @ 355.00p
Value: £29,998
Old Mutual (OML)
Director name: Mr Roger Marshall
Amount purchased: 10,000 @ 145.70p
Value: £14,570
Global Petroleum Ltd. (GBP)
Director name: Mr Peter Blakey
Amount purchased: 76,213 @ 14.75p
Value: £11,241
Witan Inv Trust (WTAN)
Director name: Mr Robert W Boyle
Amount purchased: 2,455 @ 456.50p
Value: £11,207
Top Director Sells
Northacre (NTA)
Director name: Mr Klas B Nilsson
Amount sold: 60,000 @ 70.00p
Value: £42,000
Pendragon (PDG)
Director name: Ms Hilary Claire Sykes
Amount sold: 168,496 @ 14.88p
Value: £25,072
