Stobart sells shares in family company

William Stobart sold 750,000 shares in transport group Stobart Group just in time to take advantage of the old capital gains tax regime. The sale at 145p a share raised £1.09m for Stobart, who is chief operating officer of Stobert Group. This disposal will attract capital gains tax at the rate of 18% and not the new higher tax rate of 28%. Stobart Group reported a profit before tax of £34.1m in the year to 28 February 2010, up from £22.1m in 2008-09 despite difficult trading conditions and the bad winter. That profit was boosted by a £8.26m gain from the disposal of assets in Widnes. There were restructuring charges of £2.7m in each of the past two years. Stobart Group paid dividends totalling 6p a share last year. Stobart Group believes that it can hold down its costs and improve margins this year. Analysts forecast profits of between £32m and £36m this year. The Stobart Group share price has risen by two-fifths over the past year. Top Director BuysCable & Wireless Communications (CWC) Director name: Mr William Anthony RiceAmount purchased: 2,000,000 @ 59.92p Value: £1,198,400Norcros (NXR) Director name: Mr David HamiltonAmount purchased: 477,083 @ 8.00p Value: £38,167Speymill Deutsche Immobilien (SDIC) Director name: Mr James (Jim) MellonAmount purchased: 500,000 @ € 0.07 Value: € 35,000Norcros (NXR) Director name: Mr Les Tench Amount purchased: 437,500 @ 8.00p Value: £35,000Town Centre Securities (TCSC) Director name: Mr Edward Max ZiffAmount purchased: 15,000 @ 144.00p Value: £21,600Barratt Developments (BDEV) Director name: Ms Tessa BamfordAmount purchased: 10,000 @ 109.00p Value: £10,900Top Director SellsStobart Group Ltd. (STOB) Director name: Mr William StobartAmount sold: 750,000 @ 145.00p Value: £1,087,500Bankers Petroleum Ltd (BNK) Director name: Mr Jonathan P HarrisAmount sold: 30,000 @ 527.73p Value: £158,319