Mwana Africa directors cheer results success

10th Jul 2014 16:05

Mining and development group Mwana Africa said its Non-Executive Interim Chairman had on Thursday acquired himself £15,068-worth of shares, growing his stake by around a fifth. Stuart Morris, who has been on the board since 2005, paid 2.55p for each of the 590,910 shares. The purchase, which increased his stake to three million shares, came one day after its Chief Executive Officer, Kalaa Mpinga, purchased one million shares at the slightly higher price of 2.50p in a deal worth £26,000. Wednesday also saw the release of the group's full-year results for the 12 months ended March 31st, during which time revenue soared 30.5% to $142.5m, helping it return to the black with a profit of $43.94m, compared to a loss of $32.06m a year earlier. This was in part also due to lower care and maintenance expenses, which dropped from $12.96m to $1.89m year-on-year. Top Director BuysEleco (ELCO) Director name: Mr John KetteleyAmount purchased: 626,505 @ 20.75p Value: £130,000Eleco (ELCO) Director name: Mr Jonathan CohenAmount purchased: 221,950 @ 20.75p Value: £46,055Mwana Africa (MWA) Director name: Mr Stuart MorrisAmount purchased: 590,910 @ 2.55p Value: £15,068Amphion Innovations (AMP) Director name: Mr Richard James MacaleerAmount purchased: 596,913 @ 2.17p Value: £12,953Eleco (ELCO) Director name: Mr Jonathan Brenig EdwardsAmount purchased: 62,500 @ 20.75p Value: £12,969NR