XP Power Chairman sells 120,000 shares after results disappoint

26th Feb 2013 16:28

The Chairman of XP Power, Larry Tracey, sold 120,000 shares in the group on Monday, disposing of them for 1,080p a time. The transaction earned the director just short of £1.3m and reduced his stake to 1.28m shares. On Monday the group posted a 9.0% decline in revenue for the year ended December 31st, down to £93.9m from £103.6m in 2011. The gross margin fell from 49.1% to 47.8%, while adjusted profit before tax declined 17% from £24.3m to £20.2m. Net debt fell 43% from £18.6m to £10.6m. The final dividend increased from 15p to 17p, prompting the overall dividend per share by 11% from 45p to 50p. Top Director BuysMondi (MNDI) Director name: Mr David HathornAmount purchased: 25,000 @ 847.79p Value: £211,948North Atlantic Smaller Companies Inv Trust (NAS) Director name: Mr Enrique GittesAmount purchased: 11,400 @ 1,365.00p Value: £155,610Ladbrokes (LAD) Director name: Ms Christine HodgsonAmount purchased: 15,000 @ 222.80p Value: £33,420Ladbrokes (LAD) Director name: Mrs Sylvia (Sly) BaileyAmount purchased: 10,000 @ 220.80p Value: £22,080Coms (COMS) Director name: Mr Iain Gladstone RossAmount purchased: 2,331,550 @ 0.85p Value: £19,818Talisman VCT (TFV) Director name: Mr Brian MayAmount purchased: 50,000 @ 35.25p Value: £17,625Top Director SellsXP Power Ltd. (DI) (XPP) Director name: Mr Larry TraceyAmount sold: 120,000 @ 1,080.00p Value: £1,296,000Bunzl (BNZL) Director name: Mr Patrick LarmonAmount sold: 90,000 @ 1,221.00p Value: £1,098,900