Martin Morgan, the Chief Executive of the Daily Mail and General Trust, has doubled his stake in the company with the purchase of 50,000 shares.
Morgan, handed over £195,945 for the shares, which he bought at 391.89p a go, taking his stake in the firm to 978,016 shares.
The shares were purchased on Tuesday, just a month after the company posted a decline in interim profits.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Get 6 issues free
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Adjusted operating profit fell 8.0% to £133m from £144m the year before while adjusted profit before tax tumbled 14% to £105m from £121m a year earlier. DMGT has adjusted its figures to reflect acquisitions, disposals, closures and non-annual events in the current and prior year; the percentage changes are calculated using constant exchange rates.
Revenue in the six months to April 1st eased 2.0% to £973m from £991m at the interim stage last year, but was up 3.0% on an underlying basis.
This week the company struck a deal with real estate investment trust British land, who will buy land which is currently home to the newspaper's printing operations.
The Daily Mail and General Trust said it was relocating out of the area due to changes in its technology.
Top Director Buys
Daily Mail and General Trust A (Non.V) (DMGT)
Director name: Mr Martin Morgan
Amount purchased: 50,000 @ 391.89p
Value: £195,945
Petrofac Ltd. (PFC)
Director name: Mr Tim Weller
Amount purchased: 10,000 @ 1,352.00p
Value: £135,200
GB Group (GBG)
Director name: Mr Richard Law
Amount purchased: 150,344 @ 65.92p
Value: £99,107
North Atlantic Smaller Companies Inv Trust (NAS)
Director name: Mr Christopher H B Mills
Amount purchased: 6,000 @ 1,039.00p
Value: £62,340
GB Group (GBG)
Director name: Mr David Wilson
Amount purchased: 81,966 @ 67.01p
Value: £54,925
British Sky Broadcasting Group (BSY)
Director name: Mr Nicholas Ferguson
Amount purchased: 1,768 @ 676.00p
Value: £11,952
Top Director Sells
Bank of Georgia Holdings (BGEO)
Director name: Mr Irakli Gilauri
Amount sold: 75,000 @ 1,010.00p
Value: £757,500
Bank of Georgia Holdings (BGEO)
Director name: Mr Irakli Gilauri
Amount sold: 75,000 @ 1,010.00p
Value: £757,500
GB Group (GBG)
Director name: Mr Richard Law
Amount sold: 84,505 @ 65.00p
Value: £54,928
Paying the grandkids’ school fees could generate a shock IHT bill
Number of savings deals hits record high – as interest rates slump to two-year low
