The Chairman of National Grid has raised his stake just five days after the energy supplier reported a five per cent increase in full-year adjusted profits.
Sir Peter Gershon, who joined the board as deputy Chairman in August last year, became the sole Chairman in January after succeeding Sir John Parker.
Gershon, who is also the Chairman of FTSE 100 sweeteners group Tate & Lyle, today bought 22,352 shares in the firm for 667.5p each for a total of £149,200.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely 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
On May 17th, the company said that adjusted profit before tax in the year ended March 31st was £2,585m, up 5% from £2,473m the year before and ahead of market expectations of £2,545m. Excluding the impact of timing and major storms (such as Hurricane Irene), profit before tax increased by 23% using constant exchange rates.
Revenue eased to £13,832m from £14,343m the year before. The median forecast for revenue from the range of analyst forecasts was £14,482m.
Top Director Buys
Redrow (RDW)
Director name: Mr Steve Morgan
Amount purchased: 56,904,172 @ 130.00p
Value: £73,975,424
National Grid (NG.)
Director name: Sir Peter Gershon
Amount purchased: 22,352 @ 667.50p
Value: £149,200
Coastal Energy Co (DI) (CEO)
Director name: Mr Olivier De Montal
Amount purchased: 10,000 @ 822.00p
Value: £82,200
F&C Asset Management (FCAM)
Director name: Mr Edward Bramson
Amount purchased: 157,341 @ 71.07p
Value: £111,822
Marston's (MARS)
Director name: Mr Ralph Graham Findlay
Amount purchased: 100,817 @ 98.45p
Value: £99,254
Murray International Trust (MYI)
Director name: Dr Kevin Carter
Amount purchased: 5,000 @ 907.00p
Value: £45,350
Wildhorse Energy Ltd. (DI) (WHE)
Director name: Mr Matthew A. Swinney
Amount purchased: 647,668 @ 5.00p
Value: £32,383
Redrow (RDW)
Director name: Mr John F Tutte
Amount purchased: 20,652 @ 130.00p
Value: £26,848
Murray International Trust (MYI)
Director name: Mr Peter Dunscombe
Amount purchased: 2,500 @ 912.01p
Value: £22,800
Empresaria Group (EMR)
Director name: Mr Tony Martin
Amount purchased: 55,000 @ 34.09p
Value: £18,750
Top Director Sells
Jardine Matheson Holdings Ltd (Singapore) (JAR)
Director name: Mr Adam Phillip Charles Keswick
Amount sold: 18,060 @ $49.89
Value: $901,089
Prezzo (PRZ)
Director name: Mr Kuldip Sehmi
Amount sold: 134,615 @ 70.00p
Value: £94,230
E2V Technologies (E2V)
Director name: Mr Charles Hindson
Amount sold: 38,544 @ 124.00p
Value: £47,795
-
8 of the best properties for sale with equestrian facilitiesThe best properties for sale with equestrian facilities – from a Georgian manor in Ceredigion, Wales, to a period farmhouse with an equine swimming pool in Banbury, Oxfordshire
-
Energy bills to rise by 1.2% in January 2025Energy bills are set to rise 1.2% in the New Year when the latest energy price cap comes into play, Ofgem has confirmed
