Simon Palley, a non-executive director at Land Securities, has taken his first tranche of shares in the shopping centre and office developer.

He took 16,250 shares at 664.8p each, paying nearly £110,000.

Palley joined the board of Land Securities, whose portfolio includes the Lakeside Retail Park in Essex and the building that displays the famous illuminated advertising in London's Piccadilly Circus, in August.

He also holds non-executive roles in corporate lending group Haymarket Financial and Greek casino operator Haymarket Financial. An investment banker, he is also a Trustee of the University of Pennsylvania.

Land Securities lifted underlying profit up by 6% during the first half - excluding valuation gains of £314m - and businesses are now more willing to commit to new space than even the company expected, it said.

Revenue profit grew to £135.9m in the six months ended 30 September, up from £128.4m the year before, though that jumps to £455.3m including the revaluation compared with a £4.6m loss last time.

"Our results reflect the benefit of moves we have made to position the business for the recovery in the market," chief executive Francis Salway said.

Top Director Buys

Datatec Ltd. (DI) (DTC)
Director name: Mr Jens P Montanana
Amount purchased: 120,000 @ 289.04p
Value: £346,848

Land Securities Group (LAND)
Director name: Mr Simon Palley
Amount purchased: 16,250 @ 664.80p
Value: £108,030

Kofax (KFX)
Director name: Mr Joe Rose
Amount purchased: 10,000 @ 285.00p
Value: £28,500

Polo Resources Ltd. (DI) (POL)
Director name: Mr Bryan George Smith
Amount purchased: 500,000 @ 5.25p
Value: £26,250

AG Barr (BAG)
Director name: Mr Martin Griffiths
Amount purchased: 1,800 @ 1,127.00p
Value: £20,286

MirLand Development Corp. (MLD)
Director name: Mr Steven Holm
Amount purchased: 4,375 @ 248.60p
Value: £10,876

Archipelago Resources (AR.)
Director name: Mr Graeme Ross Duncan
Amount purchased: 20,000 @ 51.00p
Value: £10,200


Top Director Sells

Mandarin Oriental International (Singapore) (MDO)
Director name: Mr Terry L Stinson
Amount sold: 200,000 @ $1.98
Value: $396,940

Experian (EXPN)
Director name: Mr Roger Davis
Amount sold: 50,000 @ 783.00p
Value: £391,500

Pan African Resources (PAF)
Director name: Mr Robert G Still
Amount sold: 700,000 @ 10.00p
Value: £70,000

Related share prices
Land Securities Group (LAND) share price
AG Barr (BAG) share price
Kofax (KFX) share price
Pan African Resources (PAF) share price
Archipelago Resources (AR.) share price
Mandarin Oriental International (Singapore) (MDO) share price
Datatec Ltd. (DI) (DTC) share price
Experian (EXPN) share price
MirLand Development Corp. (MLD) share price
Polo Resources Ltd. (DI) (POL) share price