Russel Taylor, chief executive of exhibitions and conferences firm ITE, has sold £232,228-worth of shares in the firm just days after the firm saw full revenues and profits jump as its sector defied the general economic gloom.
Taylor, who joined the firm in 2003 and took up his current role in 2008, disposed of 116,962 shares at 198.55p each in order to cover the tax liabilities on the shares.
At the end of November the firm reported adjusted profit before tax for the year to the end of September at £51.4m, up from £36.6m the year before.
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
Revenue climbed to £155.5m from £113.5m last year, all of which put the firm ahead of market expectations.
The market had been looking for pre-tax profits of £50m on turnover of £153.5m.
Top Director Buys
Xchanging (XCH)
Director name: Mr Geoff Unwin
Amount purchased: 212,630 @ 65.67p
Value: £139,634
Helius Energy (HEGY)
Director name: Mr Alastair Eric Hotson Salvesen
Amount purchased: 818,807 @ 11.50p
Value: £94,163
Sportech (SPO)
Director name: Mr Ian Hogg
Amount purchased: 150,000 @ 40.00p
Value: £60,000
GKN (GKN)
Director name: Mr Tufan Erginbilgic
Amount purchased: 30,000 @ 193.22p
Value: £57,966
REA Holdings (RE.)
Director name: Mr J. M. Green-Armytage
Amount purchased: 10,000 @ 500.00p
Value: £50,000
Enterprise Inns (ETI)
Director name: Mr Graham E (Ted) Tuppen
Amount purchased: 100,000 @ 37.00p
Value: £37,000
NewRiver Retail Ltd. (Reg S) (NRR)
Director name: Mr David Lockhart
Amount purchased: 12,000 @ 225.00p
Value: £27,000
NewRiver Retail Ltd. (Reg S) (NRR)
Director name: Mr Allan Lockhart
Amount purchased: 8,750 @ 226.00p
Value: £19,775
Elektron Technology (EKT)
Director name: Mr Noah Franklin
Amount purchased: 100,000 @ 19.62p
Value: £19,620
NewRiver Retail Ltd. (Reg S) (NRR)
Director name: Mr Nick Sewell
Amount purchased: 7,500 @ 226.00p
Value: £16,950
Top Director Sells
Imperial Tobacco Group (IMT)
Director name: Mr Robert Dyrbus
Amount sold: 23,877 @ 2,291.15p
Value: £547,058
Lancashire Holdings (LRE)
Director name: Mr Neil William McConachie
Amount sold: 31,640 @ 734.00p
Value: £232,238
ITE Group (ITE)
Director name: Mr Russell Taylor
Amount sold: 116,962 @ 198.55p
Value: £232,228
Imperial Tobacco Group (IMT)
Director name: Ms Alison Cooper
Amount sold: 9,352 @ 2,291.15p
Value: £214,268
Imperial Tobacco Group (IMT)
Director name: Mr Matthew Phillips
Amount sold: 4,478 @ 2,291.15p
Value: £102,598
Lancashire Holdings (LRE)
Director name: Mr Neil William McConachie
Amount sold: 10,000 @ 729.00p
Value: £72,900
Inheritance tax bills exceed £500,000 for almost 10% of estates
Can gold protect you against inflation?
