Communisis chairman buys

Peter Hickson, the chairman of print management and data analysis services provider Communisis, is buying shares following yesterday's results.

A downturn in spending on direct mail promotions hit Communisis in 2009 and it cut its final dividend from 1.635p a share to 0.43p a share. The total dividend has been reduced from 2.495p a share to 1.29p a share.

Hickson has bought 350,000 shares at 14p each at a total cost of £49,000. This takes his stake to 1m shares - 0.72% of Communisis. Other directors made smaller share purchases.

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Hickson spent £30,000 on 200,000 shares prior to Communisis going into a close period. He has been chairman of Communisis since December 2007 and is a former finance director of Powergen.

Trading has been tough for Communisis. Revenues fell from £257.73m to £190.19m in 2009, while profits slumped from £12.73m to £2.6m. That is after exceptional costs rose from £589,000 to £2.65m.

The bright spot was the technology and services division which increased revenue and profit. Communisis has invested £30m in technology in the past three years.

Net debt was £16.8m at the end of 2009. There is a £40m deficit on the company's pension scheme, although the balance sheet figure is done on a different basis and that is a £17.5m deficit. Communisis has a plan to pay down the deficit over 14 years.

Top Director Buys

Banco Santander SA (BNC) Director name: Mr Francisco Luzon LopezAmount purchased: 28,434 @ 850.09p Value: £241,715

Zetar (ZTR) Director name: Mr Roger MatthewsAmount purchased: 25,000 @ 235.00p Value: £58,750

Communisis (CMS) Director name: Mr Peter HicksonAmount purchased: 350,000 @ 14.00p Value: £49,000

Barratt Developments (BDEV) Director name: Mr David ThomasAmount purchased: 20,000 @ 114.00p Value: £22,800

NWF Group (NWF) Director name: Mr Mark H HudsonAmount purchased: 25,000 @ 80.00p Value: £20,000

Dunelm Group (DNLM) Director name: Mr Simon EmenyAmount purchased: 5,000 @ 396.00p Value: £19,800

Roxi Petroleum (RXP) Director name: Mr David Lawson WilkesAmount purchased: 160,000 @ 10.25p Value: £16,400

Burberry Group (BRBY) Director name: Ms Stephanie GeorgeAmount purchased: 3,700 @ 405.28p Value: £14,995

Iomart (IOM) Director name: Mr Ian RitchieAmount purchased: 29,400 @ 46.50p Value: £13,671

Top Director Sells

SABMiller (SAB) Director name: Mr M I WymanAmount sold: 91,486 @ 1,707.38p Value: £1,562,014

CSR (CSR) Director name: Mr James CollierAmount sold: 169,607 @ 470.42p Value: £797,865

Diploma (DPLM) Director name: Mr Bruce ThompsonAmount sold: 175,000 @ 173.00p Value: £302,750

Jarvis Securities (JIM) Director name: Mr M J EdmettAmount sold: 10,000 @ 146.50p Value: £14,650

Quintain Estates & Development (QED) Director name: Mr Adrian WyattAmount sold: 22,513 @ 61.49p Value: £13,843