24th Feb 2016 17:15
LONDON (Alliance News) - The following is a summary of director dealings reported in London on Wednesday.
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Ceramic products maker Morgan Advanced Materials said Non-Executive Director Douglas Caster bought his first shares, after the company reported both its underlying revenue and profit fell fell amid tough market conditions.
Caster bought 18,000 shares at 214.1 pence per share on Wednesday, which makes up his entire holding in the company.
On Tuesday, Morgan Advanced posted a big rise in pretax profit due to lower one-off costs in 2015 as it continued to contend with a tough operating environment. Pete Raby, its new chief executive, said the group was "planning prudently" for 2016 and outlined his plans to increase the efficiency of its operations and reinvest in the business.
The stock closed down 4.8% at 218.39p Wednesday.
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Rathbone Brothers said Rupert Baron, an investment director, sold 5,000 shares at a price of 2,300p per share on Wednesday. The deal is worth GBP115,000 before expenses.
Following the sale, Baron holds 88,032 shares.
The investment and wealth management group on Wednesday said pretax profit pushed higher in 2015 as it continued to grow assets under management despite difficult equity market conditions.
Rathbone said pretax profit for the year hit GBP58.6 million, up 28% on the GBP45.7 million it posted in 2014. Net fee and commission income for the year rose to GBP214.6 million from GBP187.5 million.
The stock closed down 1.5% at 2,270.00p Wednesday.
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Residential landlord Grainger said Chief Executive Officer Helen Gordon bought 3,637 shares at a price of 216.25p per share on Tuesday. Following the purchase, Gordon holds 57,423 shares. The stock closed up 0.7% at 218.00p.
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Hogg Robinson Group said Non-Executive Director Paul Williams bought 35,000 shares at a price of 66p each on Wednesday. Following the purchase, Williams holds 135,000 shares equating to a 0.04% stake. Shares in the corporate services company closed down 2.5% at 64.00p Wednesday.
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By Arvind Bhunjun; [email protected]; @ArvindBhunjun
Copyright 2016 Alliance News Limited. All Rights Reserved.
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