Porta Communications upbeat update inspires director dealing

11th Feb 2015 15:59

Porta Communications reported growth across all of its divisions over the last 12 months and said revenues would grow 30% in the full year, leading to director Brian Blasdale splashing out £0.1m on shares in the company.In a trading update released on Wednesday, the group said revenues are expected to grow 30% year-on-year (20% on a like-for-like basis), with fee income set on course to double.Earnings before interest, tax, depreciation and amortisation are estimated to rise 35%, despite strong currency headwinds."The board anticipates further strong growth in 2015 throughout the group while margins are also expected to improve with its recent acquisitions operating from one central location," the group said in a statement.The AIM-listed stock said the financial charities agency 21:12 was "gaining traction", while its PR arm, Newgate, "experienced a strong year across all jurisdictions".The group added two of its new acquisitions, PPS and Publicasity, were "successfully pitching for new business alongside other parts of the group", while Redleaf, the financial PR the group acquired in April, was an "impressive performer.""The group has acquired two transformational businesses in the fourth quarter of 2014 which are strategically important in providing critical mass for the public affairs, corporate reputation and consumer PR divisions," said Amisha Chohan, analyst at Sanlam Securities. "Both acquisitions will be earnings enhancing. They have been integrated into the group head office and are successfully pitching for new business with other parts of Porta.Independent director Blasdale bought 1.3m new shares for an individual price of 7.5p, spending a total of £97,500. Top Director BuysPorta Communications (PTCM) Director name: Mr Brian BlasdaleAmount purchased: 1,300,000 @ 7.50p Value: £97,500Banco Santander S.A. (CDI) (BNC) Director name: Ms Isabel Tocino BiscarolasagaAmount purchased: 15,000 @ 445.82p Value: £66,873JPMorgan Indian Investment Trust (JII) Director name: Mr Richard R J BurnsAmount purchased: 10,000 @ 547.50p Value: £54,750Top Director SellsEnterprise Inns (ETI) Director name: Mr W Simon TownsendAmount sold: 109,810 @ 106.99p Value: £117,486Enterprise Inns (ETI) Director name: Mr Neil SmithAmount sold: 100,530 @ 106.99p Value: £107,557