LONDON (ShareCast) - XP Power deputy chairman James Peters raised £1.47m from a share disposal two days after bumper interim figures from the power control products supplier.

Peters sold 200,000 shares at 735p each. Peters founded XP in 1988 and still owns nearly 2.7m shares, which is equivalent to 14%. That still makes him the biggest shareholder in XP.

It was announced yesterday evening that finance director Mickey Lynch had sold 25,000 shares at 730.21p a share. That raised nearly £183,000 and left Lynch with 81,000 shares. Lynch bought 3,500 shares at 372p each and 2,500 shares at 362p each last November. That indicates how strong the XP share price has been in recent months.

The share price is more than five times the level it was at the beginning of 2009.

XP nearly doubled its pre-tax profit from £3.8m to £7.3m in the six months to June 2010. Revenues were 23% higher at £40.7m and they should continue to improve in the second half. XP Power has record order books.

Edison Investment Research says that a higher proportion of own-designed/own-manufactured products has enabled XP to increase its margins. XP is using around 50% of its Chinese capacity and it is planning a factory in Vietnam, which should be in production before the end of 2011.

Edison upgraded its 2010 earnings per share forecast by 13% to 62p. That means that the shares are trading on less than 12 times prospective earnings for 2010.


Top Director Buys

Capital & Counties Properties (CAPC)
Director name: Mr Gary Yardley
Amount purchased: 88,579 @ 112.05p
Value: £99,253

Capital & Counties Properties (CAPC)
Director name: Mr Ian Durant
Amount purchased: 64,024 @ 112.05p
Value: £71,739

Mid Wynd International Inv Trust (MWY)
Director name: Mr Russell Napier
Amount purchased: 5,200 @ 960.00p
Value: £49,920

Filtronic (FTC)
Director name: Mr Edwin Graham Meek
Amount purchased: 50,000 @ 38.00p
Value: £19,000

Filtronic (FTC)
Director name: Mr Howard Ford
Amount purchased: 42,204 @ 35.00p
Value: £14,771

Summit Corporation (SUMM)
Director name: Mr Raymond Spencer
Amount purchased: 400,000 @ 2.93p
Value: £11,720

Severn Trent (SVT)
Director name: Mr Gordon Fryett
Amount purchased: 1,000 @ 1,141.00p
Value: £11,410

Top Director Sells

XP Power (XPP)
Director name: Mr James E Peters
Amount sold: 200,000 @ 735.00p
Value: £1,470,000

BT Group (BT.A)
Director name: Mr Ian Livingston
Amount sold: 72,725 @ 141.99p
Value: £103,262

BT Group (BT.A)
Director name: Mr Tony Chanmugam
Amount sold: 19,635 @ 141.99p
Value: £27,880

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