LONDON (ShareCast) - The Chief Financial Officer of Mondi, Andrew King, has sold 30,000 shares in the in the packaging and paper company.

King, who was appointed in 2008, bought the shares at 881.35p a go, costing a total of £264,405.

The sale was announced once week after the company said profits in the first quarter rose on the previous year, driven by improved market conditions in its packaging paper and South African businesses.

The group reported an underlying operating profit of €162m for the first three months of the year, a 35% increase on the previous year’s €120m.

During the period, the company was bolstered by recent acquisitions including packaging firm Nordenia and corrugated packaging plants in Germany and the Czech Republic.

Sales volumes were, on average, above the previous quarter, while average benchmark selling prices in the European businesses were largely unchanged.


Top Director Buys

Trinity Exploration & Production (TRIN)
Director name: Mr Jonathan Murphy
Amount purchased: 100,000 @ 108.00p
Value: £108,000

Ideagen (IDEA)
Director name: Mr David Hornsby
Amount purchased: 100,000 @ 21.35p
Value: £21,350

Xaar (XAR)
Director name: Mr Ted Wiggans
Amount purchased: 2,000 @ 527.00p
Value: £10,540


Top Director Sells

Mondi (MNDI)
Director name: Mr Andrew King
Amount sold: 30,000 @ 881.35p
Value: £264,405

Smiths News (NWS)
Director name: Mr Jonathan Bunting
Amount sold: 25,174 @ 183.10p
Value: £46,094

NR

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