Director dealings: Swallowfield director ups stake

30th Jul 2018 16:22

(Sharecast News) - Roger McDowell, a non-executive director of health and beauty products manufacturer Swallowfield, acquired 44,916 ordinary shares in the London-listed firm on Monday.In two separate transactions, McDowell, who joined Swallowfield back in 2012, purchased 36,250 shares at 269p for a total of £97,512.50 and then grabbed another 8,666 shares at 270p for a total of £23,398.20.Earlier in the month, the AIM-listed firm told investors it expects pre-tax profits for the full year to be "significantly ahead" of that reported a year earlier, due to a strong performance seen over at its Brands business.Swallowfield did warn that revenue at its contract manufacturing business had declined and was affected by material cost inflations and cautioned that a slower than anticipated start-up of its three major contracts had resulted in "significantly reduced" operating margins."Whilst cost pressures are anticipated to continue, we expect our contract manufacturing business to return to stronger profitability, as a result of current actions on costs and driven by growth from the new contracts," the company said.As of 1620 BST, Swallowfield shares had dipped 0.018% to 272.45p.