Tony Wray, the Chief Executive Officer of Severn Trent, the FTSE 100 utility provider which serves eight million customers, has ditched 4,570 shares in the firm to cover his tax liabilities following the award of shares under a long-term incentive plan.
Wray traded the shares at 1,747p a pop, pocketing a tidy profit of £79,838 and leaving him with a total of 17,731 shares.
Only a week ago the director was forced to defend the company's decision to pay a special dividend of £150m, equal to 63p per share, despite a decline in annual profit and soaring consumer water bills.
In a statement made on May 30th, Wray said the company had "delivered outperformance" and its shareholders "provide the capital investment for us to keep investing in our networks".
Profit before tax fell 38% to £156.7m in the year to the end of March, something the firm blamed on operational, infrastructure and employment costs.
Aberdeeen Asset Management: Morgan Stanley raises target price from 478p to 548p retaining an overweight rating. Bank of America ups target price from 455p to 475p and leaves its neutral rating unchanged. JP Morgan increases target price from 532p to 573p and maintains an overweight rating. Citigroup ups target price from 455p to 470p, while its neutral rating remains unchanged. UBS moves target price from 500p to 520p and retains a buy recommendation. Jefferies revises targe [30 Apr '13]
Internet fashion retailer ASOS is in fashion and will continue to be so for some time to come. Yes, the company“s latest trading statement - due out on Tuesday - is likely to show that gross margins suffered this past fall and winter as the outfit "invested" in more customer traffic via price reductions. Yet that is likely to turn out to have been "a pause to refresh," and it worked. Sales have shot up by a third over the last half-year. Thus, some analysts see the shares ris [28 Apr '13]
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