LSL boss builds up stake

Residential property services provider LSL Property bucked the market trend Thursday, boosted by news that boss Simon Embley has spent almost £400,000 on shares in the group.

Embley paid 31.5p each for 1.26m shares, taking his stake up to 9.3m, or nearly 9% of the company.

Yesterday, the company said turnover for the ten months to October fell 22.4%, as it bears the brunt of the property downturn.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues 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

Sign up

Surveying turnover was down by 6.4%, while estate agency and financial services turnover fell 33.3%.

The surveying division did only slightly worse than expected despite the greater than anticipated contraction in market activity levels.

Transaction volumes in the estate agency business have stabilised in recent weeks and are slightly ahead of expectations. The division is on course to perform slightly ahead of our expectations for 2008.

The group has seen its share price plunge more than 70% in the past 12 months.

Top Director Buys

European Goldfields Limited (EGU)

Director name: Mr Dimitrios Koutras

Amount purchased: 5,000,000 @ 90.90p

Value: £4,545,000

LSL Property Services (LSL)

Director name: Mr Simon Embley

Amount purchased: 1,260,000 @ 31.50p

Value: £396,900

Peter Hambro Mining (POG)

Director name: Mr Peter Hambro

Amount purchased: 40,000 @ 213.00p

Value: £85,200

Aggreko (AGK)

Director name: Mr Robert MacLeod

Amount purchased: 10,000 @ 432.50p

Value: £43,250

Whitbread (WTB)

Director name: Mr Stephen Williams

Amount purchased: 4,000 @ 800.00p

Value: £32,000

Tanzanite One (TNZ)

Director name: Mr Nicholas T Sibley

Amount purchased: 100,000 @ 29.50p

Value: £29,500

Fenner (FENR)

Director name: Mr Richard John Perry

Amount purchased: 20,000 @ 95.10p

Value: £19,020

Antisoma (ASM)

Director name: Mr Eric Dodd

Amount purchased: 50,000 @ 20.50p

Value: £10,250

Top Director Sells

Wolfson Microelectronics (WLF)

Director name: Mr Michael Ruettgers

Amount sold: 100,000 @ 76.88p

Value: £76,880