Initial share buy by Stobart non-exec

published 26 October 2009

Daniel Dayan, who was appointed a non-executive director of Stobart Group in July, has bought 40,000 shares following the release of the transport group's interim figures last week. Dayan held no shares before this purchase.

Stobart reported an increase in pre-tax profits from £11m to £12.4m in the six months to August 2009. Revenues improved from £199m to £218m. New contracts have been won with Tesco and Nestle.

Stobart chief executive Andrew Tinkler has separately revealed that he has pledged 7.3m of his shares as security for a loan. He owns 30.5m shares, equivalent to 12.15% of Stobart.