DIRECTORS of sausage-maker Cranswick have bought into the company following sharp falls in its share price after a gloomy trading statement.
Chairman Martin Davey bought 15,000 shares for a total of £94,350, taking his holding to 198,036 or just under 0.5% of the company.
Adam Couch, managing director of the company's fresh pork division, took 10,000 shares, lifting his stake to 55,644 shares. Pet foods director Derek Black bought 4,000 shares and Bernard Hogarth, director of food, took 2,000 shares, bringing their stakes in the company to 87,967 and 104,078 shares respectively. Each director paid 629p a share.
Cranswick, which supplies Sainsbury's Taste the Difference sausages, saw its share price slump after it said rising input costs and the weak pound would have a "modest negative impact" on full-year results. It said its food division was having difficulty passing on increased costs to its customers.
Hull-based Cranswick also supplies bacon, precooked meats and sandwiches. Its pet division makes food for dogs, cats and birds.
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BOSSES at IT services group Maxima bought into the company following a mixed interim statement last Tuesday.
Chief executive Kelvin Harrison bought 34,600 shares at 144½p each, lifting his stake in the firm to 3.6m shares, or 14.45% of the company.
He was joined by chief operations officer Boris Huard, who completed an identical trade, taking his interest to 54,600 shares.
In addition, nonexecutive chairman Mike Brooke picked up 10,000 shares, nonexecutive director Mark Morris 6,920 and finance chief Linda Andrews 3,460.
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Last Tuesday, Maxima reported a 43% rise in pretax profit to £2m in the half year to November 30, but warned that it had experienced "an increased level of caution" in its markets.
Directors have in-depth knowledge of their businesses, so it can pay to track their moves. Every week Digitallook.com reveals the bosses who have bought or sold big stakes.