Steven Norris doubles Jarvis stake

A round-up of the biggest director deals today so far.

Steven Norris, chairman of Jarvis, has backed up his claim that the rail maintenance specialist will recover from a recent difficult period by nearly doubling his stake in the firm.

Norris, a former Conservative transport minister, bought 300,000 shares at 7.5p a time.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free
https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

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

Sign up

Jarvis's revenue in the year to March rose to £345.8m from £321.9m in 2008. Underlying profit fell to £5.1m from £7.5m, but after exceptional costs of£11.4m, losses were £6.3m.

"The current economic conditions and Network Rail's decision to delay works created a difficult trading environment in the second half of the year under review and this is expected to continue through 2009-10," Norris said.

"The prospects beyond that appear much more promising."

Top Director Buys

Value: £54,000

Value: £22,500

Top Director Sells

Value: £16,324

MoneyWeek

MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.