ITE chief sells shares to cover tax

5th Dec 2011 16:12

Russel Taylor, chief executive of exhibitions and conferences firm ITE, has sold £232,228-worth of shares in the firm just days after the firm saw full revenues and profits jump as its sector defied the general economic gloom.Taylor, who joined the firm in 2003 and took up his current role in 2008, disposed of 116,962 shares at 198.55p each in order to cover the tax liabilities on the shares. At the end of November the firm reported adjusted profit before tax for the year to the end of September at £51.4m, up from £36.6m the year before.Revenue climbed to £155.5m from £113.5m last year, all of which put the firm ahead of market expectations.The market had been looking for pre-tax profits of £50m on turnover of £153.5m.Top Director BuysXchanging (XCH) Director name: Mr Geoff UnwinAmount purchased: 212,630 @ 65.67p Value: £139,634Helius Energy (HEGY) Director name: Mr Alastair Eric Hotson Salvesen Amount purchased: 818,807 @ 11.50p Value: £94,163Sportech (SPO) Director name: Mr Ian HoggAmount purchased: 150,000 @ 40.00p Value: £60,000GKN (GKN) Director name: Mr Tufan ErginbilgicAmount purchased: 30,000 @ 193.22p Value: £57,966REA Holdings (RE.) Director name: Mr J. M. Green-ArmytageAmount purchased: 10,000 @ 500.00p Value: £50,000Enterprise Inns (ETI) Director name: Mr Graham E (Ted) TuppenAmount purchased: 100,000 @ 37.00p Value: £37,000NewRiver Retail Ltd. (Reg S) (NRR) Director name: Mr David LockhartAmount purchased: 12,000 @ 225.00p Value: £27,000NewRiver Retail Ltd. (Reg S) (NRR) Director name: Mr Allan LockhartAmount purchased: 8,750 @ 226.00p Value: £19,775Elektron Technology (EKT) Director name: Mr Noah Franklin Amount purchased: 100,000 @ 19.62p Value: £19,620NewRiver Retail Ltd. (Reg S) (NRR) Director name: Mr Nick SewellAmount purchased: 7,500 @ 226.00p Value: £16,950Top Director SellsImperial Tobacco Group (IMT) Director name: Mr Robert DyrbusAmount sold: 23,877 @ 2,291.15p Value: £547,058Lancashire Holdings (LRE) Director name: Mr Neil William McConachieAmount sold: 31,640 @ 734.00p Value: £232,238ITE Group (ITE) Director name: Mr Russell TaylorAmount sold: 116,962 @ 198.55p Value: £232,228Imperial Tobacco Group (IMT) Director name: Ms Alison CooperAmount sold: 9,352 @ 2,291.15p Value: £214,268Imperial Tobacco Group (IMT) Director name: Mr Matthew PhillipsAmount sold: 4,478 @ 2,291.15p Value: £102,598Lancashire Holdings (LRE) Director name: Mr Neil William McConachieAmount sold: 10,000 @ 729.00p Value: £72,900