The finance director at home and car insurance giant Admiral (ADM) sold nearly half a million pounds of shares this week, although he still owns stock worth more than £2.5 million.
Geraint Jones sold two slugs of 7,050 shares in the company, one in his wife’s name, netting a total £478,836 on Monday, 27 September 2021, despite the company's ongoing strong financial performance.
In August, Admiral posted pre-tax profits for the six months to 30 June of £482.2 million, a 76% increase on last year’s £274.4 million and comfortably ahead of estimates. Revenue rose from £1.6 billion to £1.75 billion, an increase of 9%, reflecting a 12% jump in customer numbers to just over eight million.
The share price rallied 27% from May to August but has since come off peaks, drifting around 16% to the current £30.99.
RELX CHAIRMAN BACKS BUSINESS
Chairman of business publisher Relx (REL) Paul Walker has confirmed his confidence in the company’s prospects with a share purchase worth £352,320. The company announced well received interim results at the end of July.
Growth came from its Risk division, with an underlying profit increase of 12% driven by demand for digital identity solutions, fraud prevention analytics and decision tools which it can run over its extensive data sets.
Demand for such tools increased during the pandemic as more transactions moved online. Moreover moving forward its Exhibition business which has been an area of weakness, is likely to be a key beneficiary of the recent relaxation in the travel restrictions.
HALMA DIRECTOR TOP-SLICES
Jennifer Ward, the talent and communications director of electronics engineer Halma (HLMA), locked in profits with a share sale worth £313,688 following an upbeat trading announcement earlier this month.
All three divisions posted revenue and profit increases while the company also spelled out progress in its key US market.
