Andrew Burgess, the major shareholder of retail and educational interiors group Havelock Europa, has reduced his stake to 22.19 per cent after selling 1.25m shares.

The 17.75p-a-piece sale, which reduced Burgess's holding to 8.55m shares, comes less than a fortnight after the group said 2013 trading had been in-line with expectations after making good progress with its plan to expand its customer base.

During the 12-month period, the company completed a project with a major supermarket for the first time, marking an "important step" in further expanding its coverage of the retail market.

It saw an increase in tender activity in both the UK and overseas and said the benefits of additional business "should be reflected in order intake during 2014".

On the downside, revenue from the educational sector is set to fall in the current year after order intake remained subdued.

Burgess became a Non-Executive Director of Havelock in November last year.


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