5th Feb 2016 11:30
LONDON (Alliance News) - Lakehouse PLC on Friday said members of its board bought shares in that wake of a profit warning that the asset and energy support services company issued on Monday.
Chairman Stuart Black, Chief Executive Officer Sean Birrane, Chief Financial Officer Jeremy Simpson, and Michael McMahon, managing director of Lakehouse's Everwarm business, each bought 71,430 shares.
The shares were purchased at 35 pence each on Thursday.
Lakehouse on Monday said budget cuts within its housing association clients have resulted in it winning fewer contracts than expected. The company said it has seen good bidding success since the start of its financial year on October 1, but said it is currently operating in a backdrop of active cost reductions taking place across its housing association clients, in particular a requirement for social landlords to cut rents by 1.0% a year for the next four years.
Lakehouse is holding its annual general meeting on Friday. The stock was up 8.8% to 38.34p.
By Arvind Bhunjun; [email protected]; @ArvindBhunjun
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