LONDON (ShareCast) - Two board-members of upmarket cooker maker AGA Rangemaster topped up their stakes in the company on Wednesday, the same day the firm impressed the market with an upbeat outlook for the second half.

Chief Executive Officer William McGrath bought 9,160 shares at a price of 108.73p each, spending a total of £9,960. The purchase raised his holding to 221,886 shares, equal to a 0.32% interest in the company.

Meanwhile, Non-Executive Director Paul Dermody nearly doubled his stake, buying 25,000 shares for his self-invested personal pension at 108.5p each for £27,125. This lifted his holding to 50,591 shares (0.07%).

AGA said on Wednesday that after a slow first half - pre-tax losses widened to £2.4m and revenue come in flat at £119.5m - things are starting to look up and order intake since then has been encouraging.

"The tide is turning, the mood amongst our customers is better and there is a buzz about our new products. We will now see what our new generation of products - led by a more flexible AGA - and our enhanced operational gearing can deliver," McGrath said.

The stock was up 10.12% at 114.25p by the close of trade, extending the year-to-date rise to 63%.


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Director name: Mr David Ciclitira
Amount purchased: 8,560,000 @ 5.00p
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Immedia Group (IME)
Director name: Mr Mark Horrocks
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Alliance Trust (ATST)
Director name: Mr John F Hylands
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Aga Rangemaster Group (AGA)
Director name: Mr Paul B Dermody
Amount purchased: 25,000 @ 108.50p
Value: £27,125

Alliance Trust (ATST)
Director name: Mr John F Hylands
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Value: £25,177

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