Peter Hickson, the chairman of print management and data analysis services provider Communisis, is buying shares following yesterday's results.

A downturn in spending on direct mail promotions hit Communisis in 2009 and it cut its final dividend from 1.635p a share to 0.43p a share. The total dividend has been reduced from 2.495p a share to 1.29p a share.

Hickson has bought 350,000 shares at 14p each at a total cost of £49,000. This takes his stake to 1m shares - 0.72% of Communisis. Other directors made smaller share purchases.

Hickson spent £30,000 on 200,000 shares prior to Communisis going into a close period. He has been chairman of Communisis since December 2007 and is a former finance director of Powergen.

Trading has been tough for Communisis. Revenues fell from £257.73m to £190.19m in 2009, while profits slumped from £12.73m to £2.6m. That is after exceptional costs rose from £589,000 to £2.65m.

The bright spot was the technology and services division which increased revenue and profit. Communisis has invested £30m in technology in the past three years.

Net debt was £16.8m at the end of 2009. There is a £40m deficit on the company's pension scheme, although the balance sheet figure is done on a different basis and that is a £17.5m deficit. Communisis has a plan to pay down the deficit over 14 years.

Top Director Buys

Banco Santander SA (BNC)
Director name: Mr Francisco Luzon Lopez
Amount purchased: 28,434 @ 850.09p
Value: £241,715

Zetar (ZTR)
Director name: Mr Roger Matthews
Amount purchased: 25,000 @ 235.00p
Value: £58,750

Communisis (CMS)
Director name: Mr Peter Hickson
Amount purchased: 350,000 @ 14.00p
Value: £49,000

Barratt Developments (BDEV)
Director name: Mr David Thomas
Amount purchased: 20,000 @ 114.00p
Value: £22,800

NWF Group (NWF)
Director name: Mr Mark H Hudson
Amount purchased: 25,000 @ 80.00p
Value: £20,000

Dunelm Group (DNLM)
Director name: Mr Simon Emeny
Amount purchased: 5,000 @ 396.00p
Value: £19,800

Roxi Petroleum (RXP)
Director name: Mr David Lawson Wilkes
Amount purchased: 160,000 @ 10.25p
Value: £16,400

Burberry Group (BRBY)
Director name: Ms Stephanie George
Amount purchased: 3,700 @ 405.28p
Value: £14,995

Iomart (IOM)
Director name: Mr Ian Ritchie
Amount purchased: 29,400 @ 46.50p
Value: £13,671


Top Director Sells

SABMiller (SAB)
Director name: Mr M I Wyman
Amount sold: 91,486 @ 1,707.38p
Value: £1,562,014

CSR (CSR)
Director name: Mr James Collier
Amount sold: 169,607 @ 470.42p
Value: £797,865

Diploma (DPLM)
Director name: Mr Bruce Thompson
Amount sold: 175,000 @ 173.00p
Value: £302,750

Jarvis Securities (JIM)
Director name: Mr M J Edmett
Amount sold: 10,000 @ 146.50p
Value: £14,650

Quintain Estates & Development (QED)
Director name: Mr Adrian Wyatt
Amount sold: 22,513 @ 61.49p
Value: £13,843

Related share prices
SABMiller (SAB) share price
Barratt Developments (BDEV) share price
Diploma (DPLM) share price
Communisis (CMS) share price
NWF Group (NWF) share price
Quintain Estates & Development (QED) share price
Iomart Group (IOM) share price
Burberry Group (BRBY) share price
CSR (CSR) share price
Dunelm Group (DNLM) share price
Jarvis Securities (JIM) share price
Banco Santander SA (BNC) share price
Zetar (ZTR) share price
Roxi Petroleum (RXP) share price