Date: Tuesday 20 Nov 2007
LONDON (ShareCast) - Top directors at marine and offshore fluid handling systems group Hamworthy have responded to yesterday’s share price slump by topping up their shareholdings.
The chairman, Gordon Page, the chief executive, Joe Oatley, and finance director Paul Crompton all bought shares at 513.5p.
Page spent just over £50,000 on 10,000 shares to take his stake to 41,000, while Oatley made his first purchase of Hamworth stock, spending just under £25k on 4,760 shares.
Crompton has the biggest holding of the three, having bought 5,710 to top up his holding to 52,233.
Yesterday, the company's shares plunged to their lowest level since August as holders saw the announcement of impressive results as a good time to exit the shares with a profit.
Profit before tax was £6.51m for the six months to 30 September, up from £5.75m a year earlier, on turnover 30.5% higher at £106.2m. Operating profit before amortisation of acquired intangibles rose 15% to £6.3m.
“With the order book at a record level and a healthy balance sheet, the board remains confident in the group's outlook for the remainder of the year,” said chairman of the AIM listed group Gordon Page.
Order intake dropped 6.4% to £122.7m though, reflecting both the irregular timing of contract receipts and the high ordering level in the first half of the last financial year. However, the outstanding order book at 30 September 2007 was up 13.3% on the previous year end at £304m, with all product groups showing growth.
The firm, whose share price has soared more than 50% in the past 12 months, said demand for its products continues to meet expectations with the exception of offshore FPSOs (Floating Production, Storage and Offloading) where the start of some projects continued to be delayed.
Top Director Buys
Real Estate Investors (RLE)
Director name: Mr Paul Bassi
Amount purchased: 5,625,000 @ 11.00p
Value: £618,750
Spectris (SXS)
Director name: Mr Stephen Harris
Amount purchased: 35,000 @ 717.70p
Value: £251,195
Redrow (RDW)
Director name: Mr Brian Duckworth
Amount purchased: 40,000 @ 343.75p
Value: £137,500
Ennstone (ENN)
Director name: Mr Eric J S Gadsden
Amount purchased: 250,000 @ 40.50p
Value: £101,250
Galliford Try (GFRD)
Director name: Mr Chris Coates
Amount purchased: 80,000 @ 125.00p
Value: £100,000
Marchpole Holdings (MPH)
Director name: Mr Ronald Edward Stirling
Amount purchased: 99,500 @ 60.00p
Value: £59,700
Arana Therapeutics (AAHX)
Director name: Mr Greg Bundy
Amount purchased: 50,000 @ 51.33p
Value: £25,665
Hamworthy (HMY)
Director name: Mr Gordon Page
Amount purchased: 10,000 @ 513.50p
Value: £51,350
Hamworthy (HMY)
Director name: Mr Joe Oatley
Amount purchased: 4,760 @ 513.50p
Value: £24,442
Hamworthy (HMY)
Director name: Mr Paul Crompton
Amount purchased: 5,710 @ 513.50p
Value: £29,320
Azure Dynamics Corp. (ADC)
Director name: Mr Dennis A Sharp
Amount purchased: 150,000 @ 16.69p
Value: £25,035
Teleunit (TLU)
Director name: Mr Michael Phair
Amount purchased: 2,500,000 @ 2.00p
Value: £50,000
Top Director Sells
Cosalt (CSLT)
Director name: Mr Matthew Roy Peacock
Amount sold: 660,000 @ 355.00p
Value: £2,343,000
Sylvania Resources (DI) (SLV)
Director name: Dr Evan Kirby
Amount sold: 375,000 @ 122.50p
Value: £459,375
Punch Taverns (PUB)
Director name: Mr Giles Thorley
Amount sold: 35,720 @ 873.00p
Value: £311,836
GVM Metals (GVM)
Director name: Mr Nchakha Moloi
Amount sold: 68,750 @ 66.03p
Value: £45,396
GVM Metals (GVM)
Director name: Mr Nonkqubela Mazwai
Amount sold: 56,250 @ 66.03p
Value: £37,142
Punch Taverns (PUB)
Director name: Mr Jonathan Paveley
Amount sold: 8,165 @ 873.00p
Value: £71,280
Punch Taverns (PUB)
Director name: Mr Giles Thorley
Amount sold: 5,349 @ 873.00p
Value: £46,697
Punch Taverns (PUB)
Director name: Mrs Deborah Kemp
Amount sold: 4,406 @ 873.00p
Value: £38,464
