Daily Mail CEO buys 50,000 shares

27th Jun 2012 15:56

Martin Morgan, the Chief Executive of the Daily Mail and General Trust, has doubled his stake in the company with the purchase of 50,000 shares. Morgan, handed over £195,945 for the shares, which he bought at 391.89p a go, taking his stake in the firm to 978,016 shares. The shares were purchased on Tuesday, just a month after the company posted a decline in interim profits. Adjusted operating profit fell 8.0% to £133m from £144m the year before while adjusted profit before tax tumbled 14% to £105m from £121m a year earlier. DMGT has adjusted its figures to reflect acquisitions, disposals, closures and non-annual events in the current and prior year; the percentage changes are calculated using constant exchange rates. Revenue in the six months to April 1st eased 2.0% to £973m from £991m at the interim stage last year, but was up 3.0% on an underlying basis. This week the company struck a deal with real estate investment trust British land, who will buy land which is currently home to the newspaper's printing operations. The Daily Mail and General Trust said it was relocating out of the area due to changes in its technology. Top Director BuysDaily Mail and General Trust A (Non.V) (DMGT) Director name: Mr Martin MorganAmount purchased: 50,000 @ 391.89p Value: £195,945Petrofac Ltd. (PFC) Director name: Mr Tim WellerAmount purchased: 10,000 @ 1,352.00p Value: £135,200GB Group (GBG) Director name: Mr Richard LawAmount purchased: 150,344 @ 65.92p Value: £99,107North Atlantic Smaller Companies Inv Trust (NAS) Director name: Mr Christopher H B MillsAmount purchased: 6,000 @ 1,039.00p Value: £62,340GB Group (GBG) Director name: Mr David Wilson Amount purchased: 81,966 @ 67.01p Value: £54,925British Sky Broadcasting Group (BSY) Director name: Mr Nicholas FergusonAmount purchased: 1,768 @ 676.00p Value: £11,952Top Director SellsBank of Georgia Holdings (BGEO) Director name: Mr Irakli GilauriAmount sold: 75,000 @ 1,010.00p Value: £757,500Bank of Georgia Holdings (BGEO) Director name: Mr Irakli GilauriAmount sold: 75,000 @ 1,010.00p Value: £757,500GB Group (GBG) Director name: Mr Richard LawAmount sold: 84,505 @ 65.00p Value: £54,928