Three Directors buy up shares in Aga Rangemasters

Shaun Smith, the Finance Director of cooker maker Aga Rangemasters, has bought 16,090 shares in the firm, on the same day the company revealed a rise in operating profits despite falling revenue.

Smith purchased the shares at 87.00p each for a total of £13,998.

The Chief Executive, William McGrath, also stocked up, buying himself 28,045 shares at the same price for a total of £24,399.

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A Non-Executive Director, Jonathan Carling, made his first purchase of shares in the company, buying up 5,000 shares.

Revenue dropped from £259.1m to £250.9m, with operating costs lower at £244.8m (2010: £254m). Second half revenues of £129.5m were down 4.5% year-on-year, compared with the first half when revenues fell 1.6% to £121.4m. The proportion of total revenues from outside the UK was flat at 37%.

The operating profit for the year was £6.1m, up from the £5.1m reported in 2010, as the group benefitted more fully from the operational efficiencies implemented in 2008 to 2010.

"The product introductions and strengthened business processes enabled us to improve margins and provide a continuing optimism that the groundwork is in place to restore profits to levels achieved prior to the economic downturn," the firm said.

"We went into 2012 expecting markets to remain tough and we have already undertaken further steps to improve efficiencies and lower the cost base, building on programmes of the last four years. We now have a single set of focused business processes across the UK manufacturing units."

Cash dropped from £51.7m to £48.1m, slightly lower than expected. The final dividend is 1.1p, bringing the total dividend for the year to 1.9p compared with 1.7p the previous year.

Top Director Buys

Robert Walters (RWA)

Director name: Mr Robert C Walters

Amount purchased: 56,505 @ 237.50p

Value: £134,199

Robert Walters (RWA)

Director name: Mr Giles P Daubeney

Amount purchased: 47,110 @ 237.50p

Value: £111,886

Norcros (NXR)

Director name: Mr Martin Towers

Amount purchased: 100,000 @ 98.80p

Value: £98,800

Robert Walters (RWA)

Director name: Mr Alan Bannatyne

Amount purchased: 34,500 @ 237.50p

Value: £81,938

Aga Rangemaster Group (AGA)

Director name: Mr William B McGrath

Amount purchased: 28,045 @ 87.00p

Value: £24,399

Britvic (BVIC)

Director name: Mr Joanne Averiss

Amount purchased: 6,000 @ 381.00p

Value: £22,860

Norcros (NXR)

Director name: Mr Martin Towers

Amount purchased: 200,000 @ 10.55p

Value: £21,100

WYG (WYG)

Director name: Mr Paul Hamer

Amount purchased: 37,500 @ 52.00p

Value: £19,500

Access Intelligence (ACC)

Director name: Mr Michael Jackson

Amount purchased: 500,000 @ 3.25p

Value: £16,250

Aga Rangemaster Group (AGA)

Director name: Mr Shaun M Smith

Amount purchased: 16,090 @ 87.00p

Value: £13,998

Top Director Sells

Robert Walters (RWA)

Director name: Mr Robert C Walters

Amount sold: 175,407 @ 237.50p

Value: £416,592

Robert Walters (RWA)

Director name: Mr Alan Bannatyne

Amount sold: 129,782 @ 237.50p

Value: £308,232

Robert Walters (RWA)

Director name: Mr Giles P Daubeney

Amount sold: 114,951 @ 237.50p

Value: £273,009

Independent Inv Trust (IIT)

Director name: Mr Maxwell C B Ward

Amount sold: 100,000 @ 203.00p

Value: £203,000

British Polythene Industries (BPI)

Director name: Mr David Harris

Amount sold: 27,500 @ 365.00p

Value: £100,375

British Polythene Industries (BPI)

Director name: Mr John T Langlands

Amount sold: 15,940 @ 365.00p

Value: £58,181

Independent Inv Trust (IIT)

Director name: Mr Maxwell C B Ward

Amount sold: 20,000 @ 203.00p

Value: £40,600

RPC Group (RPC)

Director name: Mr Petrus R M Vervaat

Amount sold: 8,966 @ 373.70p

Value: £33,506