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Motivcom
- BY: Andrew Hore |
- POSTED: 15/10/2009 |
Nigel Wray is building up a stake in motivation services and promotions provider Motivcom.
This sparked a 1.5p rise in the Motivcom share price to 68.5p, which values the company at £20m.
Wray has increased his stake from 3.4% to 4.6%. The share price was little more than half of its current level when he previously bought shares.
Motivcom reported a fell in pre-amortisation profits from £1.77m to £1.62m in the first half of 2009. Revenues fell from £55.9m to £49m. The motivation division performed well even though revenues were lower. The events division reported a decline but the promotions division was the poorest performer.
Numis is maintaining its 2009 profit forecast at £3.5m, up from £2.9m in 2008.
The shares are trading on around eight times forecast earnings for 2009. An unchanged total dividend of 2.3p a share is forecast for 2009.
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