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.
The shares have taken a downward turn since his last foray into the market, when he paid 10.8p a time for 200,000 shares.
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
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
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.
-
Tax hikes push wealthy individuals to exit the UK – what are the risks of relocating?
Research suggests a wealth exodus may be taking place due to higher taxes under the Labour government
By Marc Shoffman Published
-
Should you buy JPMorgan's top emerging market trust?
The JPMorgan Emerging Markets Trust fund has outperformed its benchmark over the long term and offers good value
By Max King Published