Outplacement Penna Consulting said chairman Stephen Rowlinson has sold nearly £600,000 worth of shares from his sizeable holding to meet institutional demand.
Rowlinson sold 420,000 shares at 142.5p per share. He still holds approximately 32.4% of the company, around 8.1m shares.
Outplacement specialist has benefited from the current economic downturn and the increase in unemployment. Last month, it saw half-year profits quadruple, prompting it to pay interim dividends that were higher than expected.
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
The group returned paying interim dividends thanks to its above expectation performance. It paid 2p per share, versus nil last year, which was more than the 1p per share it had earmarked for the period.
Dividends were increased after the group saw half-year profits jump to £2.1m from £0.5m last year as margins improved substantially. A rise of 29% in turnover to £28.9m also helped.
Top Director Buys
Value: £536,700
Value: £98,119
Value: $97,589
Value: $97,300
Value: £95,700
Value: $57,750
Value: £34,765
Value: £31,880
Value: £31,004
Value: £27,370
Top Director Sells
Value: £598,500
Value: £76,025
Value: £36,930
-
Christmas at Chatsworth: review of The Cavendish Hotel at BaslowMoneyWeek Travel Matthew Partridge gets into the festive spirit at The Cavendish Hotel at Baslow and the Christmas market at Chatsworth
-
Tycoon Truong My Lan on death row over world’s biggest bank fraudProperty tycoon Truong My Lan has been found guilty of a corruption scandal that dwarfs Malaysia’s 1MDB fraud and Sam Bankman-Fried’s crypto scam
