Davis FD increases stake

Davis Service Group finance director Kevin Quinn has increased his stake in the textile maintenance group following a strong performance by the shares since the interim figures one month ago. Shares in Davis had risen by nearly 10% in the past month but they have fallen back today. Quinn acquired 7,500 shares at 407p each. This cost just over £30,000. Quinn owns 70,049 shares in Davis. Adjusted interim profit rose 2% to £41m in the first half of 2010, with revenues 1% higher at £488.5m. Revenue in the Nordic region rose 4% to £171.9m and adjusted operating profit by 10% to £25.3m, while sales increased by 1% in the UK & Ireland to £195.6m and profit grew 6% to £17.4m. But revenue was down 2% in the rest of Europe at £121m and profit fell slightly to £15.4m. The business is a strong cash generator and cost reductions are helping to improve operating margins. Second half trading is consistent with the trends in the first half. Top Director BuysHealthcare Locums (HLO) Director name: Ms Kate BleasdaleAmount purchased: 50,000 @ 119.00p Value: £59,500Compass Group (CPG) Director name: Sir Ian RobinsonAmount purchased: 8,711 @ 535.40p Value: £46,639Environmental Recycling Technologies (ENRT) Director name: Mr Ken BrooksAmount purchased: 1,762,440 @ 2.50p Value: £44,061Davis Service Group (DVSG) Director name: Mr Kevin QuinnAmount purchased: 7,500 @ 407.00p Value: £30,525X-Phonics (XPH) Director name: Mr Adam WebbAmount purchased: 12,500,000 @ 0.20p Value: £25,000London Stock Exchange Group (LSE) Director name: Mr Paul HeidenAmount purchased: 3,000 @ 708.00p Value: £21,240Albemarle & Bond (ABM) Director name: Mr John AllkinsAmount purchased: 5,250 @ 286.50p Value: £15,041Albemarle & Bond (ABM) Director name: Mr Barry Stevenson Amount purchased: 5,250 @ 286.50p Value: £15,041Albemarle & Bond (ABM) Director name: Mr John FarrellAmount purchased: 5,250 @ 286.50p Value: £15,041Wolseley (WOS) Director name: Mr Ian MeakinsAmount purchased: 957 @ 1,506.00p Value: £14,412Top Director SellsAlbemarle & Bond (ABM) Director name: Mr Greville V NichollsAmount sold: 17,766 @ 286.50p Value: £50,900Environmental Recycling Technologies (ENRT) Director name: Mr Roger BaynhamAmount sold: 1,762,440 @ 2.50p Value: £44,061