Non-executive director Ian West has spent £250,000 on shares in the fixed line voice and broadband telecommunications company TalkTalk, it announced today.
He took 181,700 shares at 137.58p a pop, taking his holding to 346,023 shares.
The shares are lower than when he last took a stake in the company, buying 100,000 shares at 153.17p a time in February, the same month he was appointed to the TalkTalk board.
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
Nevertheless, they picked up momentum after the company last week announced a rise in profits in the year to 31 March. Headline earnings before interest, tax, depreciation and amortisation (EBITDA) rose to £276m from £221m the previous year on revenues that climbed by £1.77bn from £1.69bn.
TalkTalk, which was demerged from Carphone Warehouse, said average revenue per user in the fourth quarter rose to £25 a month from £23.60 in the previous quarter.
Revenue will be broadly flat in 2012, the company said.
TalkTalk, which was formed from the demerger of mobile phone retailer Carphone Warehouse, has 4.1m broadband customers.
Prior to his appointment in February, West worked at the satellite broadcaster and broadband provider Sky, where he was in charge of subscriptions and with the telecoms group ntl.
Top Director Buys
TalkTalk Telecom Group (TALK) Director name: Mr Ian WestAmount purchased: 181,700 @ 137.58p Value: £249,983
Royal Dutch Shell 'A' (RDSA) Director name: Mr Gerard KleisterleeAmount purchased: 5,000 @ 2,159.40p Value: £107,970
Keller Group (KLR) Director name: Mr Ruth Cairnie Amount purchased: 6,000 @ 533.80p Value: £32,028
Manganese Bronze Holdings (MNGS) Director name: Mr John RussellAmount purchased: 44,247 @ 56.50p Value: £25,000
VinaLand Ltd. (VNL) Director name: Mr Robert Anthony Eagleson GordonAmount purchased: 27,000 @ $0.88 Value: $23,825
VinaLand Ltd. (VNL) Director name: Mr Robert Anthony Eagleson GordonAmount purchased: 27,000 @ $0.88 Value: $23,825
Top Director Sells
Staffline Group (STAF) Director name: Mr Andy HogarthAmount sold: 1,000,000 @ 245.50p Value: £2,455,000
Blinkx (BLNX) Director name: Dr Michael LynchAmount sold: 1,350,000 @ 139.99p Value: £1,889,865
Staffline Group (STAF) Director name: Mr Marshall EvansAmount sold: 300,000 @ 245.50p Value: £736,500
Blinkx (BLNX) Director name: Mr Suranga ChandratillakeAmount sold: 383,257 @ 137.85p Value: £528,320
Babcock International Group (BAB) Director name: Mr Kevin ThomasAmount sold: 45,000 @ 670.00p Value: £301,500
Sainsbury (J) (SBRY) Director name: Mr Darren M ShaplandAmount sold: 85,323 @ 342.11p Value: £291,899
-
China unveils £1.08tn stimulus package to tackle hidden debtChina's new stimulus package addresses local government debt but fell short of many investors' expectations – here's why
-
Elon Musk enters the White House – what happens now?Elon Musk has achieved the seemingly impossible many times before in the business world. But will he be able to cut the US government down to size?
