Director dealings: Midwich managing director ups stake

Midwich Group managing director Stephen Fenby purchased 40,000 ordinary shares in the London-listed specialist AV and document solutions distributor.

Fenby, who joined Midwich as finance director back in 2004, acquired the shares at an average price of 500.50p each, for a total value of £200,200.

Midwich saw its shares slide back in September despite posting double-digit across the board growth in its interim results.

For the six months ended 30 June, the company’s profit before tax jumped 48% to £11.9m as revenue increased by 25% to £264.1m after acquisitions helped to boost results.

Fenby said: "The strong performance reported in the first half, coupled with positive sales momentum and strong contributions from recent acquisitions, gives the board confidence that the group will report full-year results in line with its revised expectations, which were upgraded at the time of the group's trading statement on 20 July 2018."

As of 1640 GMT, Midwich shares had picked up 3.27% to 506p.

Top Director Buys

Midwich Group (MIDW)
Director name: Fenby,Stephen
Amount purchased: 40,000 @ 500.50p
Value: £200,200.00

Safestyle Uk (SFE)
Director name: Goldsmith,Fiona Clare
Amount purchased: 20,000 @ 83.10p
Value: £16,620.00

Top Director Sells