The chief executive of BBA Aviation Simon Pryce has taken advantage of a recent dip in the aircraft service company's share price to spend more than £100,000 on shares.
He bought 100,000 shares in the company at 102p a time, lifting his holding to 317,780 shares.
The company, which provides services such as refuelling for airlines, has seen its share price fall by nearly a third in the past month.
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
Pryce has been lifting his stake in the company steadily over the past year, paying less each time. Last November he bought 20,000 shares at just over 200p a time.
Back in August, revenues in the six months to June 30 climbed by 15% from the same period a year ago to £560.5m. BBA said 9% of this rise was due to the higher oil price.
"We now expect that our performance in the second half of 2008 will be broadly similar to the first half, assuming that there is no further adverse impact from the widespread economic slowdown," Pryce said at the time.
However, the global economic outlook has deteriorated since then and oil prices now sit around $90 a barrel having approached $150 just a few months ago.
Pryce, a qualified chartered accountant, was appointed chief executive of BBA in June 2007. He previously spent nine years at the technology and engineering firm GKN.
Top Director Buys
Lookers (LOOK)
Director name: Mr D C A Bramall
Amount purchased: 397,000 @ 33.50p
Value: £132,995
BBA Aviation (BBA)
Director name: Mr Simon Pryce
Amount purchased: 100,000 @ 102.00p
Value: £102,000
Pacific Alliance China Land Limited (PACL)
Director name: Mr Horst J F Geicke
Amount purchased: 50,000 @ $0.73
Value: $36,250
John Wood Group (WG.)
Director name: Mr Mike Straughen
Amount purchased: 10,000 @ 257.50p
Value: £25,750
Senior (SNR)
Director name: Mr Martin Clark
Amount purchased: 30,000 @ 72.50p
Value: £21,750
Standard Chartered (STAN)
Director name: Mr Richard H Meddings
Amount purchased: 1,528 @ 1,400.00p
Value: £21,392
Aricom (ORE)
Director name: Mr Brian Egan
Amount purchased: 107,622 @ 18.60p
Value: £20,018
London Capital Group (LCG)
Director name: Mr Simon David Denham
Amount purchased: 7,720 @ 254.90p
Value: £19,678
Aricom (ORE)
Director name: Mr Jay Hambro
Amount purchased: 110,000 @ 17.70p
Value: £19,470
Aricom (ORE)
Director name: Mr Yuri Makarov
Amount purchased: 110,000 @ 17.70p
Value: £19,470
Top Director Sells
Bunzl (BNZL)
Director name: Mr Patrick Larmon
Amount sold: 27,928 @ 623.70p
Value: £174,187
-
What happens if you can’t pay your tax bill, and what is "Time to Pay"?Millions are due to file their tax return this Friday as the self-assessment deadline closes. Though the nightmare is not over until you pay the taxman what you owe - or face a penalty. But what happens if you can't afford to pay HMRC your tax bill, and what is "Time to Pay"?
-
What does Rachel Reeves’s plan for growth mean for UK investors?Rachel Reeves says she is going “further and faster” to kickstart the UK economy, but investors are unlikely to be persuaded
