Menzies man sells after rally
A round-up of the biggest director buys today so far.
Ian Harrison, non-executive director at John Menzies, has trousered £173,520 from the sale of a stake in the aviation and distribution group.
The 52-year-old, who's held his post since 1987, sold 60,000 shares at 289.17p each, near an 11-month high.
The shares were trading beneath 50p in March and now sit near their best levels since last September.
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
That's despite yesterday's half-year results that showed profit before tax fell to £7.4m in the six months to 30 June from £11.3m the year before. Revenue fell to £821.3m from £826.5m.
But investors liked upbeat comments from chairman William Thomson. He said "Both operating divisions are performing well and I look forward to the full year outturn being ahead of current market expectations."
Harrison still holds a beneficial interest of 2.4m shares, or nearly 4% of the company, and a non-beneficial interest in another 415,000 shares, or 0.69%.
Top Director Buys
Value: $95,305
Value: £34,920
Top Director Sells
Value: £173,520
Sign up to Money Morning
Our team, led by award winning editors, is dedicated to delivering you the top news, analysis, and guides to help you manage your money, grow your investments and build wealth.
-
How ‘Bed & ISA’ could save you £15,000 over a decade
Moving your investments into a tax-free wrapper through ‘Bed & ISA’ transactions could save you thousands over the long run by cutting your tax bill
By Katie Williams Published
-
House prices hit record high, says Halifax
UK house prices rose 3.9% over the past year, with a typical property now costing £293,999. We look at which regions are seeing the strongest growth, and whether the rally in house prices will continue next year
By Ruth Emery Published