Chairman increases interest in Computacenter

22nd Mar 2011 16:58

A person connected to IT services provider Computacenter chairman Greg Lock has invested £210,000 in the company. Rosemary Lock has acquired 50,000 shares at 420p each. That takes Greg Lock's beneficial holding to 400,000 shares. Lock is also chairman of Kofax and he is a former chairman of SurfControl. Computacenter reported 2010 figures in line with expectations and management expects further improvement this year.Ongoing revenues grew 11% to £2.68bn, while underlying pre-tax profit was 22% ahead at £66.1m. The total dividend rose from 11p a share to 13.2p a share.Net cash trebled to £111m at the end of 2010. If financing supplied to customers is included the net cash figure increased from £86.4m to £139.4m.Broker Panmure Gordon says that the future looks bright for Computacenter and it raised its target price from 436p a share to 484p a share. Top Director Buys Computacenter (CCC) Director name: Mr Greg LockAmount purchased: 50,000 @ 420.00p Value: £210,000Capital & Counties Properties (CAPC) Director name: Mr Henry StauntonAmount purchased: 65,000 @ 163.53p Value: £106,294F&C Asset Management (FCAM) Director name: Mr Edward BramsonAmount purchased: 120,000 @ 78.18p Value: £93,816Capital & Counties Properties (CAPC) Director name: Mr Henry StauntonAmount purchased: 35,000 @ 160.51p Value: £56,178Baronsmead VCT 5 (BAV) Director name: Mr John DaviesAmount purchased: 28,769 @ 72.30p Value: £20,800RSM Tenon Group (TNO) Director name: Mr Arthur Leonard Robert (Bob) MortonAmount purchased: 51,482 @ 40.00p Value: £20,593TT Electronics (TTG) Director name: Mr Michael Baunton CBEAmount purchased: 12,500 @ 164.50p Value: £20,562Centamin Egypt Ltd. (CEY) Director name: Mr Mark ArnesenAmount purchased: 15,000 @ 128.77p Value: £19,316African Barrick Gold (ABG) Director name: Mr Andre FalzonAmount purchased: 3,000 @ 525.22p Value: £15,757Baronsmead VCT 5 (BAV) Director name: Ms Gillian NottAmount purchased: 21,576 @ 72.30p Value: £15,599Top Director Sells First Quantum Minerals Ltd. (FQM) Director name: Mr Martin R RowleyAmount sold: 50,000 @ 7,563.33p Value: £3,781,665Spectris (SXS) Director name: Mr Clive WatsonAmount sold: 17,009 @ 1,419.57p Value: £241,455Spectris (SXS) Director name: Mr Roger StephensAmount sold: 6,730 @ 1,410.12p Value: £94,901Regus (RGU) Director name: Mr Stephen Derrick GleadleAmount sold: 79,430 @ 107.08p Value: £85,054