Reed Elsevier's new chairman takes a stake

31st Jul 2009 16:06

Reed Elsevier's new chairman Anthony Habgood has signalled his commitment to the specialist publisher with the purchase of £218,000 in shares.He paid 436p a time for 50,000, his first stake in the firm, whose stable of publications includes Farmers' Weekly and New Scientist.His purchase comes after a sharp drop in Reed's share price following the announcement of a placing to raise more than £800m to help it pay debts.The firm also revealed a rise in revenues and adjusted earnings. Revenues in half year to June 2009 climbed 25% to £3.06bn, with adjusted earnings per share rising by 21% to 24.5p. Profit before tax fell to £188m from £393m.The firm said professional information businesses were relatively robust, while advertising and promotion markets were significantly impacted by global recession.Top Director BuysReed Elsevier (REL) Director name: Mr Anthony HabgoodAmount purchased: 50,000 @ 436.00p Value: £218,000Pacific Alliance China Land Limited (PACL) Director name: Mr Christopher M GradelAmount purchased: 87,200 @ $0.74 Value: $64,528CareTech Holding (CTH) Director name: Mr Christa Iris EchtleAmount purchased: 5,916 @ 335.00p Value: £19,819Top Director SellsBAE Systems (BA.) Director name: Mr George RoseAmount sold: 127,197 @ 309.80p Value: £394,056Wolfson Microelectronics (WLF) Director name: Mr David MilneAmount sold: 100,000 @ 127.00p Value: £127,000PZ Cussons (PZC) Director name: Mr Brandon Howard LeighAmount sold: 33,877 @ 234.00p Value: £79,272PZ Cussons (PZC) Director name: Mr Brandon Howard LeighAmount sold: 23,623 @ 234.00p Value: £55,278Close Brothers Group (CBG) Director name: Mr Martin AndrewAmount sold: 1,822 @ 688.50p Value: £12,544