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.
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Hooper has been chief executive since March 2003. He was purchasing shares at 107p and 108p each last September.
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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.
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Alumasc Group (ALU) Director name: Mr G Paul HooperAmount purchased: 20,129 @ 95.00p Value: £19,123
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