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.
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
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