The Chief Financial Officer (CFO) of KCOM, the FTSE 250 broadband and communications provider, sold half a million shares at 73.5p each.

Paul Simpson, who has held the role of CFO since May 2004, earned £367,500 before tax from the transaction.

He now holds 1.02m shares in the group, equal to 0.198% of the issued share capital.

In its most recent update KCOM reported a slight fall in revenue and earnings in the first half, but said that this was still a "solid performance in challenging conditions".

Earnings before interest, tax, depreciation and amortisation (EBITDA) declined by 3.9% from £40.7m to £39.1m. However, profit before tax improved by 2.2% from £27.0m to £27.6m, due to a reduction in interest costs and lower depreciation.

It also reported a large increase in net debt from £75.3m at March 31st to £94.3m, partly due to a working capital outflow associated with a number of unconnected on-off factors, an increase in capital expenditure and the purchase of £10m KCOM shares as part of its share scheme obligations.

This was the first increase in net debt in four years following seven consecutive six-month periods of decreases.

The firm said it expects a "modest reduction" in net debt in the second half, but it will still be higher year-on-year, mainly due to share scheme purchases.


Top Director Buys

Sierra Rutile Ltd (SRX)
Director name: Mr Richard Lister
Amount purchased: 100,000 @ 60.00p
Value: £60,000

C&C Group (CCR)
Director name: Mr Richard Holroyd
Amount purchased: 12,226 @ € 4.64
Value: € 56,701

Amino Technologies (AMO)
Director name: Mrs Julia Hornby
Amount purchased: 33,149 @ 75.00p
Value: £24,862


Top Director Sells

Evraz (EVR)
Director name: Mr Alexander Abramov
Amount sold: 278,010 @ 311.75p
Value: £866,696

Evraz (EVR)
Director name: Mr Alexander Frolov
Amount sold: 138,796 @ 311.75p
Value: £432,697

KCOM Group (KCOM)
Director name: Mr Paul Simpson
Amount sold: 500,000 @ 73.50p
Value: £367,500

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