Domino Printing Finance Director sells as company cautions on regional difficulties

18th Sep 2013 16:17

The Group Finance Director of Domino Printing sold 72,763 pounds-worth of shares on Tuesday, the same day the company warned investors that market conditions continued to be 'difficult' in many regions. Andrew Herbert, who joined the company in 1986, disposed of a total of 11,160 shares at 652p a time, reducing his stake to 45,474 shares. On Tuesday the group said that in some areas, such as India, it had seen signs of possible deterioration, with conditions worsening in the past quarter amid signs some customers were reducing their capital spend. Sales made in India represent approximately 6% of group turnover.For the 10 months to the end of August, conditions in Europe restricted revenue growth to low single digits, while in North America the market was more resilient and revenues climbed by more than 10%. Asia delivered "good progress" in many markets, with growth reported in China. The group warned: "Translation effects resulting from the recent significant weakening in the value of the Indian rupee compared to sterling will marginally impact our reported results this year, but there will be a greater impact next year if the present exchange rate position continues." Across the group sales rose 7% on a like-for-like basis, with growth in the core business up 5%, equipment revenues up 6%, fluids and other consumables up 7%, and spares and services revenues climbed 8%. Domino continued: "There is little evidence that more positive economic news reported recently is yet having an impact on the confidence of our customers or their investment plans [...] We therefore remain cautious about market conditions in general, but remain confident that current growth levels will be maintained for the year as a whole." Top Director BuysCLS Holdings (CLI) Director name: Mr Sten MortstedtAmount purchased: 13,000 @ 1,160.00p Value: £150,800Volga Gas (VGAS) Director name: Mr Steven OgdenAmount purchased: 100,000 @ 85.00p Value: £85,000Betfair Group (BET) Director name: Ms Zillah Byng-MaddickAmount purchased: 2,500 @ 1,052.00p Value: £26,300ServicePower Technologies (SVR) Director name: Mr Lindsay C N BuryAmount purchased: 600,000 @ 3.88p Value: £23,280ServicePower Technologies (SVR) Director name: Mr Lindsay C N BuryAmount purchased: 400,000 @ 4.40p Value: £17,600Enteq Upstream (NTQ) Director name: Mr Robin H. PinchbeckAmount purchased: 30,000 @ 58.40p Value: £17,520Top Director SellsCML Microsystems (CML) Director name: Mr Nigel G ClarkAmount sold: 58,139 @ 525.00p Value: £305,230Allocate Software (ALL) Director name: Mr Ian LangAmount sold: 280,000 @ 101.00p Value: £282,800Volga Gas (VGAS) Director name: Mr Vladimir KoshcheevAmount sold: 100,000 @ 85.00p Value: £85,000Domino Printing Sciences (DNO) Director name: Mr Andrew HerbertAmount sold: 11,160 @ 652.00p Value: £72,763