Lower profits don't stop Alumasc director buying

Feb 04, 2010

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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.

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 Barrett Amount purchased: 315,000 @ 15.50p Value: £48,825

Petro Matad (MATD) Director name: Mr Clyde Robert Evans Amount purchased: 200,000 @ 20.00p Value: £40,000

Alumasc Group (ALU) Director name: Mr G Paul Hooper Amount purchased: 20,129 @ 95.00p Value: £19,123

Workplace Systems (WSI) Director name: Mr John Herring Amount purchased: 200,000 @ 9.00p Value: £18,000

Alumasc Group (ALU) Director name: Mr Andrew Magson Amount purchased: 15,000 @ 95.00p Value: £14,250

3i Infrastructure (3IN) Director name: Mr Steven Peter Wilderspin Amount purchased: 10,000 @ 105.48p Value: £10,548

Top Director Sells

ARM Holdings (ARM) Director name: Mr Tudor Brown Amount sold: 389,975 @ 201.50p Value: £785,800

ARM Holdings (ARM) Director name: Mr Mike Inglis Amount sold: 339,109 @ 200.60p Value: £680,253

ARM Holdings (ARM) Director name: Mr Tudor Brown Amount sold: 320,000 @ 202.20p Value: £647,040

ARM Holdings (ARM) Director name: Mr Tudor Brown Amount sold: 299,049 @ 201.60p Value: £602,883

ARM Holdings (ARM) Director name: Mr Mike Muller Amount sold: 288,000 @ 201.60p Value: £580,608

ARM Holdings (ARM) Director name: Mr Mike Inglis Amount sold: 288,000 @ 200.50p Value: £577,440

ARM Holdings (ARM) Director name: Mr Mike Inglis Amount sold: 258,792 @ 200.40p Value: £518,619

Desire Petroleum (DES) Director name: Dr Ian Duncan Amount sold: 200,444 @ 115.30p Value: £231,112

ARM Holdings (ARM) Director name: Mr Graham Budd Amount sold: 84,375 @ 202.50p Value: £170,859

City of London Investment Group (CLIG) Director name: Mr Barry M Olliff Amount sold: 25,000 @ 310.00p Value: £77,500

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