LONDON (ShareCast) - The Chairman of Shanks Group, the FTSE 250 waste management firm, has bought 60,000 shares in the firm following the company's announcement that half year profits fell by 29 per cent.

Chairman Adrian Auer purchased the shares at 82.93p each for a total of £49,758.

On Thursday the company revealed that underlying profit before tax fell to £14.3m for the six months ended September 30th 2012 versus £20.2m the same time a year earlier. Revenue dropped to £339.6m during the period from £397.7m previously.

The firm attributed the declines to the fact markets in the UK and Netherlands are hit by recession and record lows on construction output, but said that with a clear strategy, robust balance sheet and its ongoing investment programme, it remains confident in its medium term growth prospects.

Top Director Buys

Bank of America Corp. (BAC)
Director name: Mr R David Yost
Amount purchased: 10,000 @ $9.48
Value: $94,800

Shanks Group (SKS)
Director name: Mr Adrian Auer
Amount purchased: 60,000 @ 82.93p
Value: £49,758

Praetorian Resources Ltd (PRAE)
Director name: Mr Malcolm Alec Burne
Amount purchased: 27,500 @ 46.00p
Value: £12,650

Mission Marketing Group (TMMG)
Director name: Mr Peter Fitzwilliam
Amount purchased: 36,000 @ 28.00p
Value: £10,080


Top Director Sells

Allergy Therapeutics (AGY)
Director name: Mr Ian D Postlewaite
Amount sold: 493,000 @ 12.75p
Value: £62,858

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