Stock Market News
Director deals: United Utilities chief cashes in shares
Steve Mogford, chief executive of FTSE 100-listed water company United Utilities, sold 217,500 ordinary shares in the firm at a price of 800.72p each on Friday.
Mogford, who replaced Philip Nevill Green as United's chief executive in March 2011, collected a total of £1,741,565.22 as a result of the sale.
United struggled to overcome a £29m increase in its finance costs for the first half of its trading year, although a £32m increase in operating profits helped it to carve out a small £5m increase in underlying pre-tax profits for the period.
In November, George Salmon, an equity analyst at Hargreaves Lansdown, said, "With both the dividend and £3.7bn of debt linked to inflation, finance costs are looking more weighty."
"However, it shouldn't be forgotten that revenues are also tied to inflation, so unless the group scores a major operational own-goal, the dividend should continue to look rock-solid," he added.
As of 1500 GMT, shares had increased 1.90% to 815.00p.
Top Director Buys
Jupiter Emerging & Frontier Income Trust Red (JEFI)
Director name: Dampier,Mark
Amount purchased: 3,940 @ 116.00p
Value: 4,570.40£
Alliance Trust (ATST)
Director name: Samuel,Christopher
Amount purchased: 36 @ 755.00p
Value: 271.80£
Top Director Sells
United Utilities Group (UU.)
Director name: Mogford,Steven L
Amount sold: 217,500 @ 800.72p
Value: 1,741,565.22£
Versarien (VRS)
Director name: Ricketts,Neill Gareth
Amount sold: 250,000 @ 61.50p
Value: 153,750.00£
Cambria Automobiles (CAMB)
Director name: Swatman ,Philip
Amount sold: 100,000 @ 57.00p
Value: 57,000.00£
Mogford, who replaced Philip Nevill Green as United's chief executive in March 2011, collected a total of £1,741,565.22 as a result of the sale.
United struggled to overcome a £29m increase in its finance costs for the first half of its trading year, although a £32m increase in operating profits helped it to carve out a small £5m increase in underlying pre-tax profits for the period.
In November, George Salmon, an equity analyst at Hargreaves Lansdown, said, "With both the dividend and £3.7bn of debt linked to inflation, finance costs are looking more weighty."
"However, it shouldn't be forgotten that revenues are also tied to inflation, so unless the group scores a major operational own-goal, the dividend should continue to look rock-solid," he added.
As of 1500 GMT, shares had increased 1.90% to 815.00p.
Top Director Buys
Jupiter Emerging & Frontier Income Trust Red (JEFI)
Director name: Dampier,Mark
Amount purchased: 3,940 @ 116.00p
Value: 4,570.40£
Alliance Trust (ATST)
Director name: Samuel,Christopher
Amount purchased: 36 @ 755.00p
Value: 271.80£
Top Director Sells
United Utilities Group (UU.)
Director name: Mogford,Steven L
Amount sold: 217,500 @ 800.72p
Value: 1,741,565.22£
Versarien (VRS)
Director name: Ricketts,Neill Gareth
Amount sold: 250,000 @ 61.50p
Value: 153,750.00£
Cambria Automobiles (CAMB)
Director name: Swatman ,Philip
Amount sold: 100,000 @ 57.00p
Value: 57,000.00£
Related share prices |
---|
United Utilities Group (UU.) share price |
Stock News headlines are gathered from financial news sources around the web. Views and opinions on each item are from their respective authors and website. They are not opinions of LiveCharts.co.uk
Get a free widget for your website with our latest headlines.
You can now add our live prices and new headlines to your website.The news widget features quotes for Oil prices, spot Gold price and Indices plus a choice of news channel for healines.
Top Shares pages
- Share price quotes
- Share charts
- Share watch list
- Company Results Calendar
- Top Large UK Shares
- UK Market Sectors
- Stock market news
- Company news
- Share tips
- A-Z company search
More share features
POPULAR Share Prices
- Royal Mail share price
- Lloyds share price
- HSBC share price
- Barclays share price
- Prudential share price
- Santander share price
- NEXT share price
- Diageo share price
- BP share price
- Vodafone share price
- British Airways
- Centrica share price
- Tesco share price
- Taylor Wimpey Share Price
- National Grid
- GKP Share Price
- Marks and Spencer
- Rolls Royce
- Rio Tinto
- THG Share Price
- Aviva Share Price
- Boil Share price
- Easyjet Share Price
- Genedrive Share Price
- SSE Share Price
- IAG Share Price
- Boohoo share price
- HE1 share price
- AVCT share price
- BOOM share price