Sepura director tunes in again

published 28 November 2008

Former Goldman Sachs heavy hitter Sion Kearsey has topped up his holding in Sepura following the TETRA radio supplier's interim results on Thursday.

Kearsey, a founding member of Sepura, spent £94,771 on 242,380 shares purchased at 39.10p each.

The purchase takes his direct holding in the company above 14m shares, representing 10.3% of the company's total voting rights. He also has an indirect interest in just over 3m Sepura shares through Kelso Place Asset Management, a private equity firm specialising in acquiring controlling interests in UK based companies.

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Prior to establishing Kelso Place Kearsey was a managing director of Goldman Sachs International in the Fixed Income, Currencies and Commodities Division. He is a non-executive director of Sepura.

On Thursday, Sepura saw interim profits fall to £4.6m from £5.2m before on flat revenues of £32.8m, though it still managed to pay an interim dividend of 0.42p versus nil last year. The board said the decline in interim pre-tax profits was expected, given the tough comparatives a year before.

"Predicting the exact timing of orders continues to be difficult and this is being exacerbated by the current economic conditions. The board expects full year revenue growth to be modest," said the group.

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