John Sheldrick, a Non-Executive Director of FTSE 250 polymer technology firm Fenner, bought himself 10,000 shares just one day after the company unveiled a 53 per cent increase in pre-tax profit.
Sheldrick purchased the shares for 440p each, for a total of £44,000. This represents 0.005% of Fenner's total issued shares and is Sheldrick's entire holding.
On the same day, Sheldrick's fellow board member, Vanda Murray, also bought a stake in the firm, buying up 2,000 for 446.88p each (equal to 0.0001% in the company).
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The company's rise in profit, for the half year ended February 29th, was the result of bumper demand from its energy and mining customers.
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Underlying pre-tax profit increased to £48.1m while pre-tax profit rose to £41.7m from £26.6m the previous year. Revenue for the period swelled to £412m from £332.5m previously.
The group said trading since February has been in line with company expectations.
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Amount purchased: 10,000 @ 440.00p
Value: £44,000
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