By Iain Gilbert
Date: Friday 30 Nov 2018
LONDON (ShareCast) - (Sharecast News) - Alpha Financial Markets chief executive Euan Fraser disposed of 678,040 ordinary shares in the AIM-listed asset and wealth management consultant.
Fraser, who joined Alpha from Synagir back in 2004, offloaded the shares at an average price of 218p, for a total value of £1.47m.
Following the sale, Fraser's interest in the company decreased to 1.35m ordinary shares, representing 1.34% of its issued share capital.
Earlier this month, Alpha revealed it had seen earnings get a boost from improved revenues and a significantly improved cash conversion in the first half of its trading year.
Revenues increased 35.5% to £39m in the six months ended 30 September, pushing EBITDA ahead 45.4% to £8.5m and operating profits forward 46.8% to £8.4m.
Besides the heightened revenues, Alpha saw its cash conversion improve from the 1.7% recorded a year earlier to 55.6% as cash generated from operating activities hit £4.8m.
Earnings per share increased from 5.04p to 6.23p and Alpha also declared an interim dividend to 1.91p per share - ahead of the 1.48p returned to investors in the previous half.
As of 1635 GMT, Alpha shares had picked up 0.68% to 221p.
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