Directors at tenanted pub group Enterprise Inns have taken the opportunity to pocket some profits following a strong rally in the firm's share price.
Chief executive Ted Tuppen sold 300,000 shares at 167.01p a time, or a total of about £500,000, leaving him with just under 2.9m shares in the firm.
The share price of Enterprise Inns has rallied strongly since December when Tuppen bought 185,000 shares at 71.9p a time.
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
It received a boost last month when it updated the market, saying that its underlying trading performance appears to be stabilising, with the rate of decline in beer sales reducing. The firm, which rents out thousands of pubs across England and Wales, has sold nearly 300 pubs this year as it seeks to balance its books.
Tuppen was joined in his latest sale by chief operating officer Simon Townsend, who also bought a big chunk back in December. He today sold 67,500 shares at 172.7p a time.
Top Director Buys
Value: £51,625
Value: £24,000
Value: £10,998
Top Director Sells
Value: £1,341,000
Value: £501,000
Value: £116,574
Value: $22,891
-
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
