Lower profits don't stop Alumasc director buying

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