Director dealings: Bunzl's North American chief executive lowers stake

27th Sep 2018 16:02

(Sharecast News) - Bunzl's North American president and chief executive Patrick Larmon disposed of 28,500 ordinary shares in the multinational distribution and outsourcing company.Larmon, who joined the group back in 1990 when Packaging Products Corporation, of which he was an owner, was acquired, sold the shares at an average price of 2,404p each, for a total value of £685,140.03.Bunzl announced its first acquisition in Norway back in August and reported a 4% increase in first-half profit growth in Europe more than made up for the negative effect of the strengthening pound on overseas profits.Adjusted pre-tax profit for the six months to the end of June rose to £257.9m from £248.3m as revenue increased 5% to £4.3bn, driven by organic growth and acquisitions. At constant exchange rates profit increased 10%. The half-year dividend rose 9% to 15.2p.Sterling's climb against the dollar caused adjusted operating profit to fall to £140.1m from £148m at Bunzl's biggest business in North America. Excluding currency movements, profit in the region rose 3%.In Continental Europe, in the UK and Ireland and in the rest of the world, profit rose.Top Director BuysSmiths Group (SMIN)Director name: Bohuon,OlivierAmount purchased: 2,972 @ 1,496.00pValue: £44,461.12 (ZEN)Director name: Cattaneo,AndreaAmount purchased: 970,000 @ 3.40pValue: £32,980.00Compass Group (CPG)Director name: Vittal,IreenaAmount purchased: 1,616 @ 1,689.00pValue: £27,294.24Sig (SHI)Director name: Lovell,Alan Amount purchased: 20,000 @ 130.87pValue: £26,173.00Toople (TOOP)Director name: Horsman,RichardAmount purchased: 8,500,000 @ 0.30pValue: £25,542.50Phoenix Global Resources (PGR)Director name: Sharma,Anuj Amount purchased: 42,000 @ 25.03pValue: £10,512.60Phoenix Global Resources (PGR)Director name: Bentley,John Amount purchased: 42,000 @ 24.00pValue: £10,080.00Phoenix Global Resources (PGR)Director name: Wolfe,Philip Amount purchased: 41,666 @ 24.00pValue: £9,999.84Phoenix Global Resources (PGR)Director name: Rake,Sir MichaelAmount purchased: 41,666 @ 24.00pValue: £9,999.84Elementis (ELM)Director name: Hewins,RalphAmount purchased: 3,728 @ 266.52pValue: £9,936.02Soco International (SIA)Director name: Watts,Mike JAmount purchased: 9,536 @ 90.55pValue: £8,634.85Soco International (SIA)Director name: Brown,Jann MAmount purchased: 9,536 @ 90.55pValue: £8,634.85 (ZEN)Director name: Cattaneo,AndreaAmount purchased: 150,000 @ 3.44pValue: £5,160.00Flowtech Fluidpower (FLO)Director name: Wilson,BillAmount purchased: 3,500 @ 117.50pValue: £4,112.50Ultra Electronics Holdings (ULE)Director name: Sharma,AmiAmount purchased: 2 @ 1,610.63pValue: £32.21Top Director SellsBunzl (BNZL)Director name: Larmon,PatrickAmount sold: 28,500 @ 2,404.00pValue: £685,140.03Altitude Group (ALT)Director name: Varley,Martin RoyAmount sold: 500,000 @ 70.78pValue: £353,899.99Ab Dynamics (ABDP)Director name: Neads,Stephen Amount sold: 19,486 @ 1,240.00pValue: £241,626.39Toople (TOOP)Director name: Horsman,RichardAmount sold: 8,500,000 @ 0.30pValue: £25,500.00