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.
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
-
Inflation holds steady at 3.8% ahead of BoE meetingThe rate of inflation did not rise in August, but the Bank of England is still expected to keep interest rates on hold tomorrow
-
Thousands of savers with £250k pensions take cash over tax-free money and IHT fearsWith a record £70 billion withdrawn from pensions in the year to March, experts are concerned savers are making knee-jerk decisions without advice that could affect their long term wealth
