Director dealings: Breedon's Marwyn man takes some profits

Breedon Group director David Williams, who brought the company to AIM in 2008, has sold £4.8m of shares as they trade not far off their all-time high a month after the building materials group completed a transformational acquisition.

Non-executive director Williams, who as boss of investment company Marwyn Capital was behind the company's flotation as Marwyn Materials, has taken some profits with the sale of 6.7m shares at a price of 71.57p apiece.

However, he still is well invested in the company's future with a stake of 10m shares as prospects appear solid enough for the business.

On 1 August, nine months after announcing a deal, Breedon Aggregates completed the acquisition of Hope Construction Materials to create what it said is the UK's leading independent producer of cement, concrete and aggregates. The following day the company changed its name to Breedon Group.

More recently, analysts at broker Numis said although Breedon shares were highly rated due to the fast growth shown so far, they expect this to be maintained and so have raised their target price to 82p.

July's interim results had shown ongoing outperformance by Breedon against a flat market backdrop, with profit before tax
up 19% to £20.9m on sales up 2% to £163m.

Although the UK construction market has become a more uncertain since the Brexit vote, Numis was confident the Hope deal gave Breedon the platform to continue its excellent performance.

Top Director Buys

Standard Life Equity Income Trust (SLET)
Director name: Burns,Richard
Amount purchased: 25,000 @ 409.75p
Value: £102,437.50

Low & Bonar (LWB)
Director name: Simpson ,Brett
Amount purchased: 100,000 @ 62.00p
Value: £62,000.00

Standard Life Equity Income Trust (SLET)
Director name: Burns,Richard
Amount purchased: 8,000 @ 409.37p
Value: £32,749.44

Avon Rubber (AVON)
Director name: Rennie ,Rob
Amount purchased: 708 @ 842.00p
Value: £5,961.36

Lsl Property Services (LSL)
Director name: Gill,Adrian
Amount purchased: 64 @ 235.00p
Value: £150.40

Lsl Property Services (LSL)
Director name: Castleton ,Adam
Amount purchased: 64 @ 235.00p
Value: £150.40

Lsl Property Services (LSL)
Director name: Crabb,Ian
Amount purchased: 64 @ 235.00p
Value: £150.40

Great Portland Estates (GPOR)
Director name: Thompson,Neil
Amount purchased: 22 @ 676.50p
Value: £148.83

Great Portland Estates (GPOR)
Director name: Sanderson,Nick
Amount purchased: 22 @ 676.50p
Value: £148.83

Great Portland Estates (GPOR)
Director name: Courtauld,Toby
Amount purchased: 22 @ 676.50p
Value: £148.83

Rps Group (RPS)
Director name: Williams,Phil
Amount purchased: 69 @ 180.00p
Value: £124.20

Rps Group (RPS)
Director name: Young,Gary
Amount purchased: 69 @ 180.00p
Value: £124.20

Top Director Sells

Breedon Group (BREE)
Director name: Williams,David
Amount sold: 6,710,636 @ 71.57p
Value: £4,802,801.99

Nwf Group (NWF)
Director name: Whiting,Richard Anthony
Amount sold: 65,611 @ 1,617.60p
Value: £1,061,323.58

South32 Limited (di) (S32)
Director name: Kerr ,Graham
Amount sold: 408,181 @ $1.93
Value: $607,256.58

Bhp Billiton (BLT)
Director name: Mackenzie,Andrew
Amount sold: 44,279 @ A$19.81
Value: A$516,253.88

South32 Limited (di) (S32)
Director name: Harris,Brendan
Amount sold: 134,682 @ $1.93
Value: $200,368.29