National Grid Chairman invests following full-year results

22nd May 2012 16:14

The Chairman of National Grid has raised his stake just five days after the energy supplier reported a five per cent increase in full-year adjusted profits.Sir Peter Gershon, who joined the board as deputy Chairman in August last year, became the sole Chairman in January after succeeding Sir John Parker. Gershon, who is also the Chairman of FTSE 100 sweeteners group Tate & Lyle, today bought 22,352 shares in the firm for 667.5p each for a total of £149,200.On May 17th, the company said that adjusted profit before tax in the year ended March 31st was £2,585m, up 5% from £2,473m the year before and ahead of market expectations of £2,545m. Excluding the impact of timing and major storms (such as Hurricane Irene), profit before tax increased by 23% using constant exchange rates. Revenue eased to £13,832m from £14,343m the year before. The median forecast for revenue from the range of analyst forecasts was £14,482m. Top Director BuysRedrow (RDW) Director name: Mr Steve MorganAmount purchased: 56,904,172 @ 130.00p Value: £73,975,424National Grid (NG.) Director name: Sir Peter GershonAmount purchased: 22,352 @ 667.50p Value: £149,200Coastal Energy Co (DI) (CEO) Director name: Mr Olivier De MontalAmount purchased: 10,000 @ 822.00p Value: £82,200F&C Asset Management (FCAM) Director name: Mr Edward BramsonAmount purchased: 157,341 @ 71.07p Value: £111,822Marston's (MARS) Director name: Mr Ralph Graham FindlayAmount purchased: 100,817 @ 98.45p Value: £99,254Murray International Trust (MYI) Director name: Dr Kevin CarterAmount purchased: 5,000 @ 907.00p Value: £45,350Wildhorse Energy Ltd. (DI) (WHE) Director name: Mr Matthew A. SwinneyAmount purchased: 647,668 @ 5.00p Value: £32,383Redrow (RDW) Director name: Mr John F TutteAmount purchased: 20,652 @ 130.00p Value: £26,848Murray International Trust (MYI) Director name: Mr Peter DunscombeAmount purchased: 2,500 @ 912.01p Value: £22,800Empresaria Group (EMR) Director name: Mr Tony MartinAmount purchased: 55,000 @ 34.09p Value: £18,750Top Director SellsJardine Matheson Holdings Ltd (Singapore) (JAR) Director name: Mr Adam Phillip Charles KeswickAmount sold: 18,060 @ $49.89 Value: $901,089Prezzo (PRZ) Director name: Mr Kuldip SehmiAmount sold: 134,615 @ 70.00p Value: £94,230E2V Technologies (E2V) Director name: Mr Charles HindsonAmount sold: 38,544 @ 124.00p Value: £47,795