Director dealings: Huntsworth trio load up on shares

A trio of Huntsworth directors bought shares in the marketing and communications group the evening after its interim results.

Chairman Derek spent £66,500 at 40.1p, chief executive Paul Taaffe £39,650 at 39.65p and finance director Neil Jones just over £35,800 at 39.82p, the company revealed after trading closed overnight.

Earlier on Tuesday, Huntsworth revealed that in the half-year to 30 June it had slashed losses 80% to £8.9m thanks to widening margins in three of its four divisions compared to the same period a year ago, while revenues only edged up 4% to £86.6m.

Taaffe said underlying profit before tax grew 21% thanks to accelerating growth at Huntsworth Health, Red and City PR firm Citigate Dewe Rogerson, with imminent completion of the final phase of restructuring at global PR business Grayling expected to deliver upside next year.

"Business momentum in Huntsworth Health remains strong, especially in the US, which will offset the impact that the Grayling restructure imposes on growth and any potential fallout from the uncertainty created by the UK's EU membership referendum vote," he added.

Analysts at Numis forecast pre-tax profits of £15m this calendar year, giving EPS of 3.2p.

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Director name: Elliott,Robert
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