Alumasc's two executive directors and one of its non-execs have added to their shareholdings despite the lower interim profits reported by the building and engineering products supplier earlier today.
Chief executive Paul Hooper has invested £19,123 in 20,129 shares, taking his holding to 260,619 shares - equivalent to 0.72% of Alumasc. Finance director Andrew Magson has invested £14,250 in 15,000 shares, doubling his holding to 20,000 shares. Both bought their shares at 95p each.
Richard Saville, who has been a non-executive director since 2002, paid 97p a share for his 10,000 shares, taking his holding to 23,000 shares.
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
Hooper has been chief executive since March 2003. He was purchasing shares at 107p and 108p each last September.
Alumasc reported a pre-tax profit of £1.9m compared with £3.5m the previous year. Revenue for the period was down 27% at £44.5m.
Building Products' revenues of £33.3m were down 22% on the first half of last year and 7% on the second half of last year. Engineering Products' revenues of £11.7m were down 38% on the first half of last year and 9% on the second half of last year.
Net debt was reduced by £1.2m to £9.2m.
Trading conditions remain challenging but new product launches will help in the second half.
Top Director Buys
Europa Oil & Gas (EOG) Director name: Mr Paul A BarrettAmount purchased: 315,000 @ 15.50p Value: £48,825
Petro Matad (MATD) Director name: Mr Clyde Robert EvansAmount purchased: 200,000 @ 20.00p Value: £40,000
Alumasc Group (ALU) Director name: Mr G Paul HooperAmount purchased: 20,129 @ 95.00p Value: £19,123
Workplace Systems (WSI) Director name: Mr John HerringAmount purchased: 200,000 @ 9.00p Value: £18,000
Alumasc Group (ALU) Director name: Mr Andrew MagsonAmount purchased: 15,000 @ 95.00p Value: £14,250
3i Infrastructure (3IN) Director name: Mr Steven Peter WilderspinAmount purchased: 10,000 @ 105.48p Value: £10,548
Top Director Sells
ARM Holdings (ARM) Director name: Mr Tudor BrownAmount sold: 389,975 @ 201.50p Value: £785,800
ARM Holdings (ARM) Director name: Mr Mike InglisAmount sold: 339,109 @ 200.60p Value: £680,253
ARM Holdings (ARM) Director name: Mr Tudor BrownAmount sold: 320,000 @ 202.20p Value: £647,040
ARM Holdings (ARM) Director name: Mr Tudor BrownAmount sold: 299,049 @ 201.60p Value: £602,883
ARM Holdings (ARM) Director name: Mr Mike MullerAmount sold: 288,000 @ 201.60p Value: £580,608
ARM Holdings (ARM) Director name: Mr Mike InglisAmount sold: 288,000 @ 200.50p Value: £577,440
ARM Holdings (ARM) Director name: Mr Mike InglisAmount sold: 258,792 @ 200.40p Value: £518,619
Desire Petroleum (DES) Director name: Dr Ian DuncanAmount sold: 200,444 @ 115.30p Value: £231,112
ARM Holdings (ARM) Director name: Mr Graham BuddAmount sold: 84,375 @ 202.50p Value: £170,859
City of London Investment Group (CLIG) Director name: Mr Barry M OlliffAmount sold: 25,000 @ 310.00p Value: £77,500
-
House prices rise 2.9% – will the recovery continue?House prices grew by 2.9% on an annual basis in September. Will Budget policies and ‘higher-for-longer’ rates dent the recovery?
-
Nvidia earnings: what to expectNvidia announces earnings after market close on 20 November. What should investors expect from the semiconductor giant?
