Davis Service non-exec takes more shares

19th May 2010 16:32

Per Utnegaard, a non-executive director at the laundry and workwear group Davis Service spent nearly £200,000 lifting his stake in the company.He bought 50,000 shares at 399.64p a time and now has 150,000. His bought his first 100,000 shares just before Christmas, paying 394.8p a time. In a trading update late last month, Davis, which operates the Sunlight linen hire and laundry brand in the UK, reported an improvement in margins as the effects of the cost cutting programme take effect.Profit before tax showed a modest year on year improvement in the first quarter despite higher interest payments following the refinancing of group debt last year.The group is seeing little sign, however, of an upturn in its markets though there have been some bright sports.In the Nordic region Norway has seen a substantial increase in profitability while Sweden has also made heady, but Denmark is still contracting.Utnegaard, who joined Davis in 2005, is the president and chief executive of the cargo services group Swissport International. Top Director BuysDavis Service Group (DVSG) Director name: Mr Per UtnegaardAmount purchased: 50,000 @ 399.64p Value: £199,820Standard Life (SL.) Director name: Mr David Thomas NishAmount purchased: 50,000 @ 188.44p Value: £94,220Edinburgh Worldwide Inv Trust (EWI) Director name: Mr David E ReidAmount purchased: 20,000 @ 258.00p Value: £51,600Digital Marketing (DIGI) Director name: Mr Stephen DavidsonAmount purchased: 166,667 @ 30.00p Value: £50,000Thomas Cook Group (TCG) Director name: Mr Michael BeckettAmount purchased: 20,001 @ 216.00p Value: £43,202Vertu Motors (VTU) Director name: Mr David Malcolm Forbes Amount purchased: 100,000 @ 36.50p Value: £36,500Thomas Cook Group (TCG) Director name: Mrs Dawn AireyAmount purchased: 10,000 @ 219.00p Value: £21,900Digital Marketing (DIGI) Director name: Mr Ian G RobinsonAmount purchased: 66,660 @ 30.00p Value: £19,998Pinewood-Shepperton (PWS) Director name: Mr Ivan DunleavyAmount purchased: 10,000 @ 153.00p Value: £15,300Pinewood-Shepperton (PWS) Director name: Mr Ivan DunleavyAmount purchased: 10,000 @ 139.25p Value: £13,925Top Director SellsExperian Group (EXPN) Director name: Mr Don RobertAmount sold: 239,699 @ 599.43p Value: £1,436,828RPS Group (RPS) Director name: Mr Peter DowenAmount sold: 300,000 @ 202.57p Value: £607,710