SDL head shows faith after profit warning

27th Nov 2012 16:28

The Chairman and Chief Executive of troubled business, translation and communications software company SDL has added 170,532 shares to his stake in the company one day after it issued a profit warning. Mark Lancaster, who also founded the group in 1992, was clearly keen to show his faith in the group after a review of the business resulted in a reduction to its profit expectations for the financial year ending December 31st. He purchased the shares at 439.82p each, costing him a total of £750,034. In a statement made on Monday, Lancaster said: "Despite the short term shortfalls in the business, I feel more confident in SDL's technology stack and service solutions than I have ever been. In 2013 we will make additional investments in sales and marketing to drive long-term growth. We expect this additional investment to be between £3.0m to £4.0m in 2013." The group expects pre-tax profits before amortisation for the year to total between £36m and £37m on revenues of between £270m and £272m. The news caused the share price to fall around 70p on Monday. The stock has lost 32%, equal to 205p, in the past 12 months.Following the transaction, Lancaster's holding in the firm totals 668,946 shares, equal to 0.83% of the issued share capital. Top Director Buys SDL (SDL) Director name: Mr Mark LancasterAmount purchased: 170,532 @ 439.82p Value: £750,034F&C Asset Management (FCAM) Director name: Mr Edward BramsonAmount purchased: 47,505 @ 98.89p Value: £46,978Cape (CIU) Director name: Mr Joe OatleyAmount purchased: 15,000 @ 185.00p Value: £27,750Leni Gas & Oil (LGO) Director name: Mr David Anthony LenigasAmount purchased: 2,000,000 @ 1.37p Value: £27,400Camper & Nicholsons Marina Investments Ltd. (CNMI) Director name: Mr Martin BralsfordAmount purchased: 250,000 @ 10.00p Value: £25,000Global Energy Development (GED) Director name: Mr Stephen C VossAmount purchased: 25,000 @ 100.00p Value: £25,000Howden Joinery Group (HWDN) Director name: Mr Matthew IngleAmount purchased: 14,000 @ 164.80p Value: £23,072VinaLand Ltd (VNL) Director name: Mr Charles Isaac Amount purchased: 50,000 @ $0.43 Value: $21,500Camper & Nicholsons Marina Investments Ltd. (CNMI) Director name: Mr Martin BralsfordAmount purchased: 200,000 @ 10.00p Value: £20,000Ricardo (RCDO) Director name: Mr Ian LeeAmount purchased: 3,000 @ 351.80p Value: £10,554Top Director SellsCompass Group (CPG) Director name: Mr Andrew MartinAmount sold: 448,953 @ 719.14p Value: £3,228,601Compass Group (CPG) Director name: Mr Gary GreenAmount sold: 256,856 @ 719.14p Value: £1,847,154Compass Group (CPG) Director name: Mr Richard John CousinsAmount sold: 181,663 @ 719.14p Value: £1,306,411Compass Group (CPG) Director name: Mr Mark WhiteAmount sold: 68,513 @ 719.14p Value: £492,704Bunzl (BNZL) Director name: Mr Brian MayAmount sold: 24,768 @ 1,062.00p Value: £263,036Maple Energy (MPLE) Director name: Mr Tony L. HinesAmount sold: 96,480 @ 69.00p Value: £66,571