XP Power chairman spends £200k

4th Aug 2009 16:04

XP Power, which manufacturers power controllers for electrical equipment, saw its executive chairman raise his stake in the group.Larry Tracey bought 80,000 shares for £204,000, or £2.55 each. He has increased his holding to 2.66m, which is nearly 14% of the group.XP Power yesterday saw pre-tax profit for the half-year slide to £3.6m from £6.4m on sales that slipped to £33.1m from £34.8m. But shares rose as the group said the launch of its second in-house manufacturing facility in China in the first half will play a "crucial role" in helping drive its revenue growth going forward. "Looking ahead, we expect that the ongoing implementation of our strategy will continue to underpin our resilience whilst simultaneously positioning the Group to prosper in the eventual cyclical recovery," it added.Top Director BuysXP Power (XPP) Director name: Mr Larry TraceyAmount purchased: 80,000 @ 255.00p Value: £204,000Palmaris Capital (PMS) Director name: Mr Timothy NobleAmount purchased: 500,000 @ 4.40p Value: £22,000Melorio (MLO) Director name: Mr Hugh AldousAmount purchased: 20,000 @ 108.00p Value: £21,600Top Director SellsBanco Santander SA (BNC) Director name: Mr Manuel Soto SerranoAmount sold: 80,000 @ 844.35p Value: £675,480Chloride Group (CHLD) Director name: Mr Neil WarnerAmount sold: 275,085 @ 146.80p Value: £403,825Banco Santander SA (BNC) Director name: Mr Manuel Soto SerranoAmount sold: 40,000 @ 846.05p Value: £338,420Johnson Matthey (JMAT) Director name: Mr John SheldrickAmount sold: 22,092 @ 1,401.60p Value: £309,641Banco Santander SA (BNC) Director name: Mr Manuel Soto SerranoAmount sold: 30,000 @ 847.76p Value: £254,328Banco Santander SA (BNC) Director name: Mr Manuel Soto SerranoAmount sold: 29,572 @ 839.23p Value: £248,177Johnson Matthey (JMAT) Director name: Mr Neil A P CarsonAmount sold: 17,301 @ 1,401.60p Value: £242,491Johnson Matthey (JMAT) Director name: Mr Lawrence C PentzAmount sold: 16,292 @ 1,401.60p Value: £228,349Banco Santander SA (BNC) Director name: Mr Manuel Soto SerranoAmount sold: 20,428 @ 843.50p Value: £172,310Banco Santander SA (BNC) Director name: Mr Manuel Soto SerranoAmount sold: 20,000 @ 846.91p Value: £169,382