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Powerleague - Director buying after results

November 2008

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • PWR
  • Price:
  • 33.5p
Final results and a battered share price have encouraged chairman Claude Littner and chief executive Sean Tracey to buy 840,000 shares each at a price of 32p, which is clearly a vote of confidence. For the year to 28 June, the five-a-side football operator reported that pretax profit remained constant at £5m on revenues that rose 15% to £26.3m. Eps fell 10% to 4.1p, reflecting increased interest costs and a higher tax rate (33% versus 26%). Net debt doubled to £38m, mainly through the £24m capital investment in new centres and refurbs. While no new openings are expected this year Powerleague still has reassuring borrowing headroom of c. £8.5mThe disappointing results are more a reflection of investment in the future than anyt ...

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