LONDON (ShareCast) - Stuart Mitchell, the Chief Executive at building materials group SIG, has purchased 53,000 shares just a few days after the company posted a decline in first half underlying pre-tax profit.
Mitchell bought the shares at 180.00p a time, costing him a total of £95,400.
Speaking last week, he said that the company continues to "expect to make further progress in 2013 consistent with our previous expectations, assuming normal weather conditions in the second half".
However, he also warned that "while there are signs that market conditions are starting to improve in the UK, construction activity in Mainland Europe remains weak".
The results showed that revenues in continuing operations fell slightly, by 0.7% to £692.2m, with like-for-like sales down 4.5%.
Underlying pre-tax profit dropped to £30.2m from the prior year’s £35.5m and revenue decreased to £1.27bn from £1.28bn.
Mitchell's stake in the company now stands at 164,260 shares.
Top Director Buys
New Europe Property Investments (NEPI)
Director name: Mr Victor Semionov
Amount purchased: 275,000 @ € 4.89
Value: €1,344,750
New Europe Property Investments (NEPI)
Director name: Mr Martin Slabbert
Amount purchased: 200,000 @ € 4.89
Value: €978,000
Intu Properties (INTU)
Director name: Mr John Whittaker
Amount purchased: 100,000 @ 311.76p
Value: £311,760
SIG (SHI)
Director name: Mr Stuart Mitchell
Amount purchased: 53,000 @ 180.00p
Value: £95,400
Newmark Security PLC (NWT)
Director name: Mr Michel Rapoport
Amount purchased: 1,500,000 @ 1.40p
Value: £21,000
Top Director Sells
Mears Group (MER)
Director name: Mr Robert (Bob) Holt
Amount sold: 600,000 @ 417.33p
Value: £2,503,980
Lombard Risk Management (LRM)
Director name: Mr Nicholas Davies
Amount sold: 2,600,000 @ 12.00p
Value: £312,000
Baronsmead VCT (BDV)
Director name: Mr Peter Lawrence
Amount sold: 21,523 @ 73.50p
Value: £15,819
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