LONDON (ShareCast) - XP Power's Chairman, Larry Tracey, on Friday sold 50,000 shares in the manufacturer of electronic equipment components after it issued a bullish update on trading.
Tracey disposed of the shares at 1,500p each, leaving him with 1.23m shares and a 6.38% stake in the group.
The company reported that third quarter revenues were up 11% year-on-year, helped by a positive trading environment.
It said its order intake for the quarter had exceeded revenues and therefore it expected a modest sequential improvement in revenues for the second half as a whole.
It promised investors a 13p a share dividend for the third quarter, bringing the total dividend payments for the first three quarters to 36p a share which marks a 9% increase over the 33p paid in respect of the same period last year.
Looking forward, the company said there were encouraging signs that global demand for the equipment that its customers make was growing again.
It added: “XP Power is benefiting from these improving market conditions as end users take advantage of the low cost of funds to invest in new equipment, incorporating the latest technologies, to improve their productivity.”
Top Director Buys
Waterlogic (WTL)
Director name: Mr Jeremy Ben-David
Amount purchased: 50,000 @ 116.00p
Value: £58,000
Shanta Gold Ltd. (SHG)
Director name: Mr Anthony Durrant
Amount purchased: 225,606 @ 17.73p
Value: £40,000
Top Director Sells
Arrow Global Group (ARW)
Director name: Mr Robert Memmott
Amount sold: 915,266 @ 205.00p
Value: £1,876,295
XP Power Ltd. (DI) (XPP)
Director name: Mr Larry Tracey
Amount sold: 50,000 @ 1,500.00p
Value: £750,000
Dairy Farm International Holdings Ltd. (Singapore) (DFI)
Director name: Mr Michael Kok
Amount sold: 60,300 @ $10.56
Value: $636,696
Irish Continental Group Units (ICGC)
Director name: Mr Eamonn Rothwell
Amount sold: 20,000 @ € 25.70
Value: € 514,000
TT Electronics (TTG)
Director name: Mr Tim Roberts
Amount sold: 26,000 @ 193.00p
Value: £50,180
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