RCG Holdings plunges as profits disappoint

SHARES in RCG Holdings, which specialises in technology used for surveillance and identification systems including fingerprint recognition, have been hit hard since it revealed lower than expected profits for last year.

Although sales increased by 22 per cent to 201.8 million, the 17 per cent growth in pre-tax profits was below what analysts had pencilled in.

The Aim-listed company, which focuses on markets in the Asia-Pacific region, has now seen its market value almost halve since January.

At the time of its full-year figures in March the company said despite the impact of price pressure from competitors seen over the past year, it was cautiously optimistic about trading prospects in 2010.

A share purchase by chief executive Dato Lee Boon Han last week suggested he believed that optimism was borne out.

He bought 37,389 shares at an average price of 40p each. He now owns 104,000 shares.

nKevin Loosemore, chairman of IT group Micro Focus International, has upped his stake in the company following recent share price falls.

He bought 100,000 shares at 401p each to take his holding up to 300,000 shares.

nRalph Kugler, chairman of Manchester-based hygiene products company Byotrol, has upped his stake for the second time in a fortnight. In his latest purchase Kugler bought 128,333 shares at 16.5p each.

He now holds 717,333 shares.

nAlfred Stirling, a non-executive director at Glasgow-based retail marketing space business SpaceandPeople, has bought 147,500 shares at 58p each.

The Oxford Investment Trust, a company in which Stirling holds more than a 30 per cent stake, also acquired 64,500 shares. He now owns 917,000 shares.

nJoe Mathews, group chief executive at shower manufacturer Norcros, has bought 549,000 shares at 8p each. He now holds just under 15 million shares in the company behind the Triton brand.

nAndrew Bell, chairman of minerals group Red Rock Resources, has sold more than half of his holding. He disposed of one million shares at 2.13p each, leaving him with 800,000 shares.

nTwo directors at retailer JJB Sports have bought their first holdings in the company.

Chief executive Keith Jones purchased 710,000 shares at 12.69p each and non-executive director David Adams bought 100,000 shares at the same price.