25th Feb 2020 17:11
(Alliance News) - Scottish housebuilder Springfield Properties PLC said its chief executive sold shares worth GBP362,500 on Tuesday.
CEO Innes Smith disposed of 250,000 shares at 145 pence each, with the proceeds to go towards the purchase of a family home, Springfield said. Shares closed 11% lower Tuesday in London at 142.51p each.
Smith now holds 952,428 shares, worth just shy of 1% of the entire company. This also includes the holding of his wife.
The company reported interim results earlier Tuesday, showing a 3.4% rise in pretax profit for the six months to November to GBP6.3 million. Revenue rose 5.4% to GBP79.9 million.
"We are pleased to have achieved another period of growth resulting from progress across our business and, in particular, delivering strong improvement in gross margin," said CEO Smith.
By George Collard; [email protected]
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