Lo-Q Chairman adds to stake, out-going Burberry CFO sells up

15th Feb 2013 08:43

The non-executive Chairman of Lo-Q, the AIM-listed technology solutions provider, purchased a chunk of shares in the group on Thursday.In an announcement that came after Thursday's close, it was revealed the Chairman had bought himself £174,400-worth of shares just two days after the company posted double digit growth in its preliminary results. John Weston, who joined the company in May 2011, significantly enhanced his stake in the group with the purchase of 40,000 shares, which he acquired for 436p each. His stake in the company now stands at 95,700, equal to 0.5% of the issued share capital.In Tuesday's results, the company, which provides virtual queuing systems provider for theme parks, water parks and attractions, said pre-tax profit surged 16.7% to £3.2m for the period ended November 4th 2012 while revenue climbed 18.7% to £29.1m. It also revealed a 2.6% like-for-like, year-on-year increase in average customer spend on the group's products and a 9% rise in park customers using Lo-Q systems. Net cash rose to £8.9m from £7.5m before. Stacey Cartwright, the out-going Chief Financial Officer of fashion label Burberry, has sold 61,171 shares at 1,363.30p a time, pocketing £833,944 before tax, it was revealed Friday. It was announced earlier this week that Carol Fairweather has been appointed as Cartwright's successor.Fairweather, who has been with Burberry for six years - most recently as Senior Vice President of Group Finance, will take up the position ahead of the group's annual general meeting in July 2013. Prior to joining Burberry, Fairweather held senior finance positions at News International and Shandwick. Top Director BuysWater Hall Group (WTH) Director name: Mr Raschid Michael AbdullahAmount purchased: 3,486,417 @ 2.25p Value: £78,444Volex (VLX) Director name: Mr Chris GeogheganAmount purchased: 30,000 @ 97.00p Value: £29,100Top Director SellsBurberry Group (BRBY) Director name: Ms Stacey CartwrightAmount sold: 61,171 @ 1,363.30p Value: £833,944Rurelec (RUR) Director name: Mr Peter Richard Stephen EarlAmount sold: 100,000 @ 10.00p Value: £10,000NR