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Sage Chairman makes most of lower share price after CEO retirement news

Fri, 09th May 2014 16:14

Sage Chairman Donald Brydon has purchased 15,000 shares in the company following the surprise announcement of the retirement of its Chief Executive Officer (CEO) by March next year. The FTSE-100 software firm saw its shares spiral following the news, despite it also reporting a 5% increase in half-year revenue, driven by strong growth in software subscription. Brydon paid 390.20p a share for a total spend of £58,530, reflecting yesterday's slump of around 27p. On Thursday the group revealed its organic revenue had risen to £657m for the six months ended March 31st from £626m the same time a year earlier. Operating profit rose to £180m from £165m and underlying basic earnings per share rose 8.3% to 11.12p. The Newcastle-upon-Tyne group said statutory revenue fell 7% to £657m while profit before income tax came in at £165m compared to an £8m loss the year before due to an exceptional item of £180m relating to disposals.Top Director BuysRotala (ROL) Director name: Mr John GunnAmount purchased: 1,050,000 @ 50.00p Value: £525,000Schroders (Non-Voting) (SDRC) Director name: Mr Philip MallinckrodtAmount purchased: 7,800 @ 2,005.00p Value: £156,390Sage Group (SGE) Director name: Mr Donald H BrydonAmount purchased: 15,000 @ 390.20p Value: £58,530Kofax Limited (DI) (KFX) Director name: Mr Joe RoseAmount purchased: 8,000 @ 402.87p Value: £32,230Azonto Petroleum Ltd (DI) (AZO) Director name: Mr Andrew RoseAmount purchased: 2,400,000 @ 1.25p Value: £30,000Azonto Petroleum Ltd (DI) (AZO) Director name: Mr Robert James ShepherdAmount purchased: 2,400,000 @ 1.25p Value: £30,000BlackRock Greater Europe Inv Trust (BRGE) Director name: Miss Carol FergusonAmount purchased: 9,600 @ 233.00p Value: £22,368S&U (SUS) Director name: Mr Anthony M V CoombsAmount purchased: 600 @ 1,910.00p Value: £11,460Top Director SellsCLS Holdings (CLI) Director name: Mr Sten A MortstedtAmount sold: 381,218 @ 1,495.00p Value: £5,699,209Reckitt Benckiser Group (RB.) Director name: Mr Rakesh KapoorAmount sold: 11,300 @ 4,828.72p Value: £545,645CRH (CRH) Director name: Mr Mark S ToweAmount sold: 18,000 @ 1,663.40p Value: £299,412CLS Holdings (CLI) Director name: Mr Thomas J ThomsonAmount sold: 1,399 @ 1,495.00p Value: £20,915CLS Holdings (CLI) Director name: Mr H O Thomas LundqvistAmount sold: 1,356 @ 1,495.00p Value: £20,272NRNR
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5 Aug 2010 15:40

FTSE 100 movers: Insurers please market

Strong results from insurers are offsetting disappointing figures from other Footsie companies. Aviva reported a better-than-expected 21% rise in its half-year profit, while RSA Insurance Group announced revenue growth in all geographic regions and a 'resilient underwriting result' in what was a t

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1 Jul 2010 13:57

FTSE 100 movers: Investment managers decline

Footsie remains lower with financials heading the losers. This is because of concerns of a slow-down at Barclays Capital (BarCap) investment management arm. Barclays said BarCap had seen weaker trading conditions in the past two months. Schroders and Investec are also well down on the back of this

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6 May 2010 15:33

FTSE 100 movers: Banks lead market down

Banks are leading Footsie downwards after ratings agency Moody's warned that the UK lenders are "at risk of Greek contagion". Barclays, Royal Bank of Scotland, Lloyds, HSBC and even Asia-focused Standard Chartered fell sharply after Moody's said banks in the UK, as well as in Ireland, Italy, Portu

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1 Apr 2010 11:20

Home Retail boss opens Hammerson account

Terry Duddy, chief executive of Argos and Homebase owner Home Retail Group, has opened his account at Hammerson having joined the board of the shopping centre operator in December. He took 20,000 shares at 394p a time in his first purchase of shares in the company, paying a total of £78,800. In a

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10 Mar 2010 16:19

FTSE 100 movers: Footsie ahead despite ex-dividends

Resources companies and banks are heading the risers on the Footsie, while the forward momentum has been held back by a raft of companies going ex-dividend. Rising copper prices have boosted the shares of Fresnillo, Eurasian Natural Resources and Xstrata. RBS upgraded oil services provider Petro

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4 Mar 2010 16:05

FTSE 100 movers: Results dominate index

A mixed bag of results dominate the main movers in the Footsie. The bright spot was fund manager Schroders. Net new business inflows jumped to £15bn in 2009 compared with net outflows of £9.6bn in 2008, while funds under management ended the year at £148.4bn versus £110.2bn a year earlier. Total p

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17 Nov 2009 15:51

Schroders executives pocket option gains

Two executive directors of asset manager Schroders have taken up options and sold most of them for large profits. Chief executive Michael Dobson took up options over 1,802,033 non-voting shares, of which 906,285 were at nil cost and the rest at prices of 705p, 483p and 398p a share. The total cost

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29 Jul 2009 11:32

FTSE 100 movers: Schroders leads the pack

Fund manager Schroders leads the FTSE 100 higher after saying it is seeing strong demand for its European corporate bond product, prompting Morgan Stanley to upgrade the stock. Rexam is the heaviest faller. The packaging giant's well -flagged right issue has been launched with the firm looking to r

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24 Jul 2009 17:13

London close: Ten out of ten for Footsie

The FTSE 100 index made it ten days of rises in a row, despite tailing off towards the close as investors looked to bank profits ahead of the week-end. It capped the best rally by the blue-chip index in five years. The rise was achieved despite dismal gross domestic product data. UK output contract

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24 Jul 2009 14:11

London afternoon: Financials find favour

Footsie eased back a little over the lunchtime session but thanks to firm financials the blue-chip index continues to shrug off this morning's gloomy data on gross domestic product (GDP). UK output contracted 0.8% between April and June after a 2.4% decline in the first quarter, according to the Of

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