DIRECTORS at Johnson Service Group (JSG) bought big stakes last week after the dry-cleaning chain owner said it expected an improved performance following a difficult 2007.

Chief executive John Talbot, who previously had no stake, bought 635,000 shares - more than 1% of the company - at 21.16p a share.

Chairman Simon Sherrard bought 236,294 shares at the same price, lifting his holding to 276,294 shares. Finance director Yvonne Monaghan and three non-executive directors - including the Conservative peer Baroness Wilcox - bought smaller stakes at the same price.

Shares in JSG, which owns the dry-cleaning chain Johnson The Cleaners as well as facilities management and workwear-rental facilities, shot ahead last Tuesday.

Annual pre-tax profit fell to £18.5m, in line with analyst forecasts, compared with £25.7m the year before. Sales for the year to

December 31 fell to £406m from £411m.

JSG's share price has almost halved in the past year. It slumped in November after the company said it expected to breach its banking covenants.

CONNAUGHT executive chairman Mark Tincknell remains “extremely positive” about the social-housing maintenance firm's prospects, the company said after he sold £8.5m worth of shares.

He offloaded 2.25m shares on Monday at 375p each, leaving him with 1.3m shares, or just over 1% of the FTSE 250-listed company. Connaught said he sold the shares to “satisfy institutional demand”.

In a statement flagging the share sale, Connaught said Tincknell was “extremely positive about the future prospects of the company”. Connaught, which fixes, maintains and cleans homes and neighbourhoods for local authorities and social landlords, reported a 20% rise in pre-tax profits from the same period a year ago in its interim results.