12th Aug 2020 11:30
(Alliance News) - Wealth management firm Quilter PLC said Wednesday that Chief Executive Officer Paul Feeney sold GBP20,400 in shares on Tuesday.
Feeney sold 13,604 shares at a price of GBP1.50 each. Quilter didn't say how many shares he now holds.
Shares in Quilter were up 0.1% at 150.15 pence on Wednesday in London, while its Johannesburg shares were 0.4% lower at ZAR34.00.
The wealth management firm on Tuesday had reported a decline in profit and revenue for the first half of 2020, due to mostly external conditions including lower markets.
For the six months to the end of June, adjusted pretax profit dropped by 38% to GBP71 million from GBP115 million for the same period a year before. This was on revenue that declined by 4% to GBP335 million from GBP348 million, due to the Covid-19 pandemic and its impact on equity markets.
Also adding to the declining performance was a dip by 2.7% in assets under management & administration to GBP107.4 billion as at June 30 from GBP110.4 billion at the end of December, driven by negative market movements, mainly from the FTSE 100 index being 18% lower for the period.
By Dayo Laniyan; [email protected]
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