Stephen King, an Independent Non-executive Director of electronic component and sensor technology firm TT Electronics, has doubled his stake in the company with the purchase of 50,000 shares.

King, who joined TT in October last year, handed over £74,125 for the shares, which he purchased for 148.25p each.

The transaction comes just one week after the company saw its shares plummeton the back of declining first-half revenues amid tough market conditions.

The Surrey-based group, which supplies electronic components to manufacturers in the automotive, defence, aerospace and medical industries, saw revenue fall 3.8% to £271.2m from £281.8m the same time a year earlier "reflecting more difficult market conditions and the planned exit from certain lower margin projects".

Last year's period also benefitted from a pull-forward of orders following the Japanese earthquake. Adjusted for a foreign exchange loss of 0.9%, the underlying decrease was 2.9%.

The share price is now around 21p lower than it was prior to the publication of the half-year results, having regained around 14p in the last week.


Top Director Buys

TT Electronics (TTG)
Director name: Mr Stephen King
Amount purchased: 50,000 @ 148.25p
Value: £74,125

Halfords Group (HFD)
Director name: Ms Claudia Arney
Amount purchased: 21,052 @ 237.09p
Value: £49,912

Finsbury Growth & Income Trust (FGT)
Director name: Mr Anthony Townsend
Amount purchased: 7,330 @ 367.00p
Value: £26,901

F&C Asset Management (FCAM)
Director name: Mr Edward Bramson
Amount purchased: 15,000 @ 89.96p
Value: £13,494


Top Director Sells

Telford Homes (TEF)
Director name: Mr David J Holland
Amount sold: 50,000 @ 115.00p
Value: £57,500

Vitec Group (VTC)
Director name: Mr Jon Bolton
Amount sold: 1,740 @ 668.67p
Value: £11,635

Related share prices
TT Electronics (TTG) share price
Finsbury Growth & Income Trust (FGT) share price
F&C Asset Management (FCAM) share price
Vitec Group (VTC) share price
Telford Homes (TEF) share price
Halfords Group (HFD) share price