Director dealings: Inchcape CEO lowers stake
Inchcape's chief executive Stefan Bomhard disposed of 88,986 ordinary shares in the firm on Wednesday.
FTSE 250
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FTSE All-Share
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Inchcape
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Bomhard, who joined Inchcape from Bacardi back in 2015, offloaded the shares at an average price of 699.92p each, for a total value of £622,830.80.
Despite a challenging UK market, the car showroom operator's strong international diversification and beginning of its 'Ignite' strategy ensured underlying profits grew in the first half.
Inchcape grew group revenue 3.8% in actual currency to £4.6bn and said growth of 6.8% at constant currency rates was "encouraging". Pre-tax profits, however, tumbled 15.6% to £161.2m due to some exceptional costs, with underlying profit before tax growing 2% at constant currencies to £179.5m. Earnings per share slipped 18% to 26.9p.
As of 1640 BST, Inchcape shares had inched ahead 0.58% to 699.50p.
Top Director Buys
Value And Income Trust (VIN)
Director name: Oakeshott,Matthew A
Amount purchased: 50,000 @ 266.00p
Value: £133,000.00
Mothercare (MTC)
Director name: Newton-Jones,Mark
Amount purchased: 201,305 @ 24.59p
Value: £49,500.90
Berkeley Energia Limited (di) (BKY)
Director name: Jones.,Nigel
Amount purchased: 35,000 @ 44.00p
Value: £15,400.00
Top Director Sells
Inchcape (INCH)
Director name: Bomhard ,Stefan
Amount sold: 88,986 @ 699.92p
Value: £622,830.80