Davis Service Group finance director Kevin Quinn has increased his stake in the textile maintenance group following a strong performance by the shares since the interim figures one month ago.
Shares in Davis had risen by nearly 10% in the past month but they have fallen back today. Quinn acquired 7,500 shares at 407p each. This cost just over £30,000. Quinn owns 70,049 shares in Davis.
Adjusted interim profit rose 2% to £41m in the first half of 2010, with revenues 1% higher at £488.5m.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Revenue in the Nordic region rose 4% to £171.9m and adjusted operating profit by 10% to £25.3m, while sales increased by 1% in the UK & Ireland to £195.6m and profit grew 6% to £17.4m. But revenue was down 2% in the rest of Europe at £121m and profit fell slightly to £15.4m.
The business is a strong cash generator and cost reductions are helping to improve operating margins. Second half trading is consistent with the trends in the first half.
Top Director Buys
Healthcare Locums (HLO) Director name: Ms Kate BleasdaleAmount purchased: 50,000 @ 119.00p Value: £59,500
Compass Group (CPG) Director name: Sir Ian RobinsonAmount purchased: 8,711 @ 535.40p Value: £46,639
Environmental Recycling Technologies (ENRT) Director name: Mr Ken BrooksAmount purchased: 1,762,440 @ 2.50p Value: £44,061
Davis Service Group (DVSG) Director name: Mr Kevin QuinnAmount purchased: 7,500 @ 407.00p Value: £30,525
X-Phonics (XPH) Director name: Mr Adam WebbAmount purchased: 12,500,000 @ 0.20p Value: £25,000
London Stock Exchange Group (LSE) Director name: Mr Paul HeidenAmount purchased: 3,000 @ 708.00p Value: £21,240
Albemarle & Bond (ABM) Director name: Mr John AllkinsAmount purchased: 5,250 @ 286.50p Value: £15,041
Albemarle & Bond (ABM) Director name: Mr Barry Stevenson Amount purchased: 5,250 @ 286.50p Value: £15,041
Albemarle & Bond (ABM) Director name: Mr John FarrellAmount purchased: 5,250 @ 286.50p Value: £15,041
Wolseley (WOS) Director name: Mr Ian MeakinsAmount purchased: 957 @ 1,506.00p Value: £14,412
Top Director Sells
Albemarle & Bond (ABM) Director name: Mr Greville V NichollsAmount sold: 17,766 @ 286.50p Value: £50,900
-
FTSE 100 hits record highs – why is it rising and will we see more gains?Advice UK equities have been described as unloved for a long time but as the FTSE 100 hits new highs, we explain if now is the time to buy British.
-
How to invest in copperIt may be time to invest in copper as the red metal appears poised for a big jump. Dominic Frisby looks at what should investors should buy
