Director dealings: Gooch & Housego directors make the most of share slump

A number of Gooch & Housego directors made the most of a plunge in the company’s share price on Thursday, after the company issued a profit warning despite a record order book.

The photonic components manufacturer said its chairman Gary Bullard bought 4,349 shares for 655p each, spending a total of £28,485.95.

At the same time Elaine Sullivan, who is “closely associated” with Bullard, bought 4,000 shares at 655p apiece, valuing the transaction at £26,200.

Following the transactions, G&H said Bullard had increased his interest to 20,067 of its shares, representing 0.08% of its total issued share capital.

At the same time, it disclosed that non-executive director Brian Phillipson bought 1,506 shares for 663p each, spending £9,984.78.

As a result, Phillipson increased his interest to 3,460 G&H shares, representing 0.01% of its total issued share capital.

Finally, the firm reported that Katherine Crowe, “closely associated” with company secretary Gareth Crowe, paid 660p for each of 769 shares, valuing the purchase at £5,075.40.

G&H said Gareth Crowe had increased his interest to 769 shares as a result, representing 0.003% of its total issued share capital.

Gooch & Housego reported a record level of orders in a trading update on Wednesday morning, but said a slower-than-expected ramp-up in production meant adjusted profit before tax was now expected to be £3.5m lower than previously anticipated.

Its shares plunged more than 20% from around 824p late on Tuesday, to last trade around 655p on Wednesday afternoon.

Reporting by Josh White at Sharecast.com.

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