Autoclenz's new chairman James Leek has topped up his holding in the car valeter the day after it announced it fell into losses on the back of difficulties across the automotive sector.
He bought 50,000 at 22p a time, taking his holding to 905,000, which amounts to 8.7% of the company.
He was joined by non-executive director Michael Stone, who took 49,598 at 21p a go.
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
In yesterday's results, adjusted profit before tax was £0.9m (2007: £1.55m) but on a pre-tax level, the group fell into losses of £246,000 versus £393,000 profit last year. Sales improved 3.5% to £27.97m.
The group said it has been a challenging year with the effects of the recession increasingly impacting its revenue from the automotive sector particularly during the last quarter.
"I am pleased to report that despite the increasingly difficult market conditions, these results are slightly ahead of stockbrokers forecasts issued after our trading update in August 2008," said Leek
Top Director Buys
Value: £25,012
Value: £25,012
Value: £19,950
Value: £15,000
Value: £13,860
Value: £11,000
Value: £10,416
Value: £10,005
Value: £10,005
Top Director Sells
Value: £72,123
Value: £47,500
-
8 of the best houses for sale with annexesThe best houses with annexes – from a period property in the Lake District to a 13th-century house with a two-bedroom annexe in Saltwood, Kent
-
Zelenskyy moves to appease Donald Trump – what happens now?Ukraine’s president Volodymyr Zelenskyy is conceding ground to secure the least-worst deal possible, says Emily Hohler
