Petrofac heads stock up as group unveils growth predictions

17th May 2013 16:10

Both the Chairman and the Chief Financial Officer of Petrofac bought shares on Thursday, the same day the company predicted modest growth in net profits for the year. In an announcement issued Friday, it was reported that Norman Murray and Tim Weller bought 7,500 and 7,454 shares respectively. Murray, who paid 1,333p per share, spent a total of £99,975, while Well paid 1,341.29p at a total of £99,980. The net profit growth is expected to arise on the back of the rephasing of its In Salah project in Algeria. The British oil services firm was forced to temporarily evacuate staff from the In Salah southern filed following a terrorist attack in January. Full-site operations are expected to recommence during the second half of 2013. The company said the remobilisation of the site will defer revenue and margin from 2013 to 2014, but will not impact expectations for margins over the life of the project. The group is targeting net profit after tax of over $862m in 2015. Top Director BuysPetrofac Ltd. (PFC) Director name: Mr Tim WellerAmount purchased: 7,454 @ 1,341.29p Value: £99,980Petrofac Ltd. (PFC) Director name: Mr Norman MurrayAmount purchased: 7,500 @ 1,333.00p Value: £99,975Pearson (PSON) Director name: Mr Will EthridgeAmount purchased: 2,155 @ 1,217.61p Value: £26,239Pearson (PSON) Director name: Mr John FallonAmount purchased: 2,920 @ 1,198.00p Value: £34,9823i Group (III) Director name: Ms Martine VerluytenAmount purchased: 10,000 @ 343.20p Value: £34,320Oakley Capital Investments Ltd. (DI) (OCL) Director name: Mr James KeyesAmount purchased: 10,000 @ 149.40p Value: £14,940Marston's (MARS) Director name: Mr Peter DalzellAmount purchased: 10,000 @ 147.18p Value: £14,718Top Director SellsHowden Joinery Group (HWDN) Director name: Mr Matthew IngleAmount sold: 2,147,229 @ 246.90p Value: £5,301,508Lancashire Holdings (LRE) Director name: Mr Richard David Henry BrindleAmount sold: 584,897 @ 826.30p Value: £4,833,004Lancashire Holdings (LRE) Director name: Mr Alex Maloney Amount sold: 140,877 @ 826.30p Value: £1,164,067SABMiller (SAB) Director name: Mr Graham MackayAmount sold: 17,837 @ 3,657.00p Value: £652,299Petrofac Ltd. (PFC) Director name: Mr Ayman AsfariAmount sold: 44,326 @ 1,330.97p Value: £589,966Bankers Petroleum Ltd.(CDI) (BNK) Director name: Mr Ian McMurtrieAmount sold: 183,333 @ 182.25p Value: £334,124SABMiller (SAB) Director name: Mr Alan ClarkAmount sold: 6,154 @ 3,657.00p Value: £225,052Morgan Advance Materials (MGAM) Director name: Mr Mark RobertshawAmount sold: 50,591 @ 281.10p Value: £142,211Morgan Advance Materials (MGAM) Director name: Mr Kevin DangerfiledAmount sold: 28,049 @ 281.10p Value: £78,846Morgan Advance Materials (MGAM) Director name: Dr Andrew HostyAmount sold: 26,663 @ 281.10p Value: £74,950NR