David Hempleman-Adams, a non-executive director of power controller manufacturer XP Power, has purchased two lots of shares less than a week after the firm cautioned over its revenues.
The first purchase saw Hempleman-Adams, who joined the firm in 2008, snap up his first round of shares in the firm, buying 5,000 at 1,061.49p.
Three days later, on April 16th, he then bought an additional 4,450 shares for 1,057.70p each at a cost of £47,068, taking his total stake in the company to 9,450, or 0.05%.
Just one day before the first purchase, the company announced that group revenues in the three months to March 31st declined by 10% over the same period in 2011, with the weakness most evident in the industrial sector. In constant currency the decline was 11%.
The firm says it expects stronger revenues in the second quarter with customers placing orders at an increased rate, but warned that full year revenue is likely to be flat.
The share price has plunged over 35%, equivalent to 598p, over the past year, although it has risen 1.7%, equal to 18p, in the last week.
Datafeed and UK data supplied by NETbuilder and Interactive Data.
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