Menzies man sells after rally

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.

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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