Marjorie Scardino, the chief executive of the Financial Times and Penguin books publisher Pearson, has been selling shares in the company.
She netted about £460,000 from the sale of 40,000 shares, half of them at 1,153p a time and half at 1,150p. She still has about 1.28 shares in the company.
Shares in Pearson are up by more than 20% over the past year.
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
The firm, which generates approximately 60% of its sales in the US, said earlier this month that first quarter revenue increased 9%, boosted by its education and publishing division, and still expects margin and earnings growth in 2011.
The group, which has recently acquired a string of acquisitions including US software firm Schoolnet, said revenue at constant currencies rose 10% to £1.03bn.
Scardino, an American, used to publish the Georgia Gazette with her husband, before becoming a pillar of the UK establishment as a Dame of the British Empire and a member of the advisory boards of the Victoria & Albert Museum and Oxfam.
Top Director Buys
RSM Tenon Group (TNO) Director name: Mr Arthur Leonard Robert (Bob) MortonAmount purchased: 13,625,000 @ 22.00p Value: £2,997,500
KBC Advanced Technologies (KBC) Director name: Mr Oliver Rupert Andrew ScottAmount purchased: 25,000 @ 72.00p Value: £18,000
Densitron Technologies (DSN) Director name: Mr Grahame FalconerAmount purchased: 110,000 @ 9.75p Value: £10,725
Top Director SellsPearson (PSON) Director name: Ms Marjorie ScardinoAmount sold: 20,000 @ 1,153.00p Value: £230,600
Pearson (PSON) Director name: Ms Marjorie ScardinoAmount sold: 20,000 @ 1,150.00p Value: £230,000
-
8 of the best houses for sale with annexesThe best houses with annexes – from a period property in the Lake District to a 13th-century house with a two-bedroom annexe in Saltwood, Kent
-
Zelenskyy moves to appease Donald Trump – what happens now?Ukraine’s president Volodymyr Zelenskyy is conceding ground to secure the least-worst deal possible, says Emily Hohler
