Director dealings: German tax hits gambling profits

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ONLINE gambling firm digital entertainment recently reported that a solid performance last year in areas such as its sports and casino arms had been offset by a new German gaming tax and a decline in poker.

Although the revenue for 2013 is now expected to be slightly lower than current market estimates, the impact of cost savings leaves the company confident about the full year result.

Most of last year was focused on integration and 2013 would be about “transforming the business through innovation”.

Shares in the company have risen strongly since the turn of the year but non-executive director Geoff Baldwin believes they still offer good value.

He invested more than £440,000 in two tranches of shares, 226,000 shares at 147.83p and 74,000 shares at 148.02p. He now holds 400,000 shares.

• Marcus Yeoman, non-executive director at Enables IT Group, has purchased 55,000 shares at 28.2p each and now holds 169,478 shares.

• Nick Stagg, chief executive of Management Consulting Group, has bought 29,000 shares at 30.8p each.

He now has 803,154 shares in the company.

• The chief executive, deputy chief executive and managing director/chief financial officer of Edinburgh-based oil and gas explorer Cairn Energy have upped their stakes following full year results.

Chief executive Simon Thomson and his deputy Dr Mike Watts both purchased 17,636 shares at 283.5p each and now hold 384,739 and 1.16 million shares respectively.

Managing director and chief financial officer Jann Brown bought 8,818 shares at the same price, and now holds 292,906.

• Edward Bonham Carter, the group chief executive of Jupiter Fund Management, has sold shares.

He disposed of 750,000 shares at 350.75p each although he still retains a stake of 13 million shares.

• Ian Davis, who will be taking the reins as chairman of aero engine firm Rolls Royce, has bought his first shares in the company He purchased 5,000 shares at 1,110p.

• Lord Harris of Peckham has sold 150,000 shares at 650p in floorcoverings retailer Carpetright.