Bellway Chairman sells share post transfer after strong results

On the same day that it reported a stellar set of half-year results, the Executive Chairman of UK residential property developer Bellway, Ted Ayres, disposed of 12,276 shares.The stock was part of a larger batch of shares transferred to Ayres from the company's employee share option scheme for a consideration of 844p a share, of which he retained 4,224. He sold the shares at 1,646.30p each for a total of £202,100. The FTSE-250 listed group said on Wednesday pre-tax profit surged 73.3% to £103.8m for the half-year ended January 31st 2014 while revenue for the period jumped 39.5% to £701.1m as demand was driven by low interest rates, more easily available credit and the government Help to Buy scheme. The firm explained that its results were driven by growth in volume, average selling price and operating margin and underlined its confidence in future trading, prompting a 77.8% hike in its interim dividend.Top Director BuysCairn Energy (CNE) Director name: Sir Bill GammellAmount purchased: 59,800 @ 167.22p Value: £99,998Town Centre Securities (TCSC) Director name: Mr Edward Max ZiffAmount purchased: 42,000 @ 234.00p Value: £98,280Howden Joinery Group (HWDN) Director name: Mr Matthew IngleAmount purchased: 20,770 @ 384.00p Value: £79,757Howden Joinery Group (HWDN) Director name: Mr Mark RobsonAmount purchased: 14,830 @ 384.00p Value: £56,947Morrison (Wm) Supermarkets (MRW) Director name: Mr Trevor StrainAmount purchased: 23,503 @ 211.15p Value: £49,627Vodafone Group (VOD) Director name: Mr Nicholas C E LandAmount purchased: 13,000 @ 219.45p Value: £28,528Town Centre Securities (TCSC) Director name: Mr Richard A LewisAmount purchased: 8,000 @ 234.00p Value: £18,720Top Director SellsTyman (TYMN) Director name: Mr Louis EperjesiAmount sold: 98,531 @ 312.25p Value: £307,663Laird (LRD) Director name: Mr Jonathan C SilverAmount sold: 88,499 @ 301.03p Value: £266,409Tyman (TYMN) Director name: Mr James BrothertonAmount sold: 73,899 @ 312.25p Value: £230,750Bellway (BWY) Director name: Mr Edward (Ted) AyresAmount sold: 12,276 @ 1,646.30p Value: £202,100Kerry Group 'A' Shares (KYGA) Director name: Mr Gerry BehanAmount sold: 3,000 @ € 54.90 Value: € 164,700Topps Tiles (TPT) Director name: Mr Matthew WilliamsAmount sold: 20,000 @ 138.50p Value: £27,700NR