Betfair finance chief buys

15th Dec 2010 16:33

Betfair finance director Stephen Morana has bought £100,000 worth of shares in the betting exchange operator following yesterday's share price fall in the back of interim figures. Betfair floated in October at an offer price of 1,300p a share. It dipped below that price prior to the interims and at one point yesterday it fell below 1,000p a share. There are concerns about whether Betfair can meet full year targets. Reported profit declined from £9.19m to £7.45m. That includes exceptional costs from corporate projects of £16.8m. Active Betfair customers rose by 31% to 654,000 but average revenue per user fell 16% to £213.Morana has bought 9,641 shares at 1,037.14p each. Along with his wife he owns 13,550 shares. Morana joined Betfair in 2002 and took up his current post in 2005. Top Director BuysBetfair (BET) Director name: Mr Stephen MoranaAmount purchased: 9,641 @ 1,037.14p Value: £99,991SR Europe Inv Trust (SR.) Director name: Mr Martin RileyAmount purchased: 25,000 @ 189.00p Value: £47,250CLS Holdings (CLI) Director name: Mr Richard TiceAmount purchased: 8,000 @ 520.00p Value: £41,600Digital Barriers (DGB) Director name: Mr Rupert KeeleyAmount purchased: 20,000 @ 160.00p Value: £32,000SR Europe Inv Trust (SR.) Director name: Mr Martin RileyAmount purchased: 15,000 @ 190.00p Value: £28,500KCOM Group (KCOM) Director name: Mr Martin TowersAmount purchased: 45,000 @ 54.62p Value: £24,579Pursuit Dynamics (PDX) Director name: Mr Richard WebsterAmount purchased: 5,000 @ 486.00p Value: £24,300Digital Barriers (DGB) Director name: Mr Christopher BanksAmount purchased: 15,000 @ 160.00p Value: £24,000Brulines Group (BRU) Director name: Mr James DicksonAmount purchased: 20,000 @ 110.00p Value: £22,000Flybe Group (FLYB) Director name: Mr Peter SmithAmount purchased: 5,500 @ 319.00p Value: £17,545Top Director SellsMandarin Oriental International (Singapore) (MDO) Director name: Mr Terry L StinsonAmount sold: 260,000 @ $2.01 Value: $522,470Brulines Group (BRU) Director name: Mr Duncan James NobleAmount sold: 300,000 @ 110.00p Value: £330,000Discovery Metals Ltd. (CDI) (DME) Director name: Mr Morrice CordinerAmount sold: 250,000 @ 79.21p Value: £198,025TUI Travel (TT.) Director name: Mr William WaggottAmount sold: 50,000 @ 234.10p Value: £117,050Pan African Resources (PAF) Director name: Mr Robert G StillAmount sold: 600,000 @ 11.00p Value: £66,000RM (RM.) Director name: Mr Rob SirsAmount sold: 20,790 @ 154.00p Value: £32,017RM (RM.) Director name: Mr Terry SweeneyAmount sold: 9,136 @ 154.00p Value: £14,069