Graham Wilson, the chairman of Goals Soccer Centres, has bought shares following yesterday's interim results.
Wilson has invested just over £12,000 in buying 10,000 shares at 123.5p each. That takes his stake to 350,000 shares.
Wilson has been buying throughout the year and each time the price is lower. He bought 30,000 shares at 140p each at the beginning of July and 10,000 shares at 150p each. The previous two purchases were on the days of the pre-close statement and 2009 results release respectively.
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The five-a-side football centres operator reported a 3% increase in first half sales to £13.2m. Like-for-like sales were flat excluding the impact of the snow at the beginning of the year. Underlying profit was 3% lower at £3.8m.
Four centres have been added this year taking the total in the UK to 37. There are another four centres under construction.
The first centre in California, which is owned by a joint venture, has opened. A master franchise agreement has been made with a leisure operator in the Republic of Ireland and Northern Ireland.
Net debt was £43.8m at the end of June 2010 and there is plenty of spare debt capacity.
The dividend was maintained at 0.675p a share. The ex-dividend date is 22 September so Wilson will get the dividend on the shares he has purchased.
So far in the second half like-for-like revenues are 3% ahead. Analysts forecast full year profit of £9.3m.
Top Director Buys
SVM Global Fund (SVG) Director name: Mr Graham FullerAmount purchased: 10,000 @ 259.00p Value: £25,900
Charles Stanley (CAY) Director name: Mr Michael R I LilwallAmount purchased: 6,000 @ 217.00p Value: £13,020
Goals Soccer Centres (GOAL) Director name: Mr Graham WilsonAmount purchased: 10,000 @ 123.50p Value: £12,350
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