Powerflute's chairman sells shares

The chairman of Powerflute Oyj announced on Friday it has sold some of his shares in the paper and packaging group.

Dermot Smurfit sold 100,000 shares on Wednesday for 65.25p each and further 92,500 for 67.05p on Thursday, bringing home a total of £127,280.

After the sale, Smurfit still holds 1.5m shares in the company, which represent 0.5% of its share capital.

The group said last month it expects its full-year performance to be "significantly" ahead of initial forecasts thanks to strong market conditions in its coreboard and cores division in the US and China.

The packaging papers division is also performing well, the company said at the time, with favourable movement of the dollar agains the euro having a positive impact on average selling prices.

Top Director Buys

Datatec Ltd. (DI) (DTC)
Director name: Mr Jens P Montanana
Amount purchased: 130,000 @ 353.38p
Value: £459,394

Seneca Global Income & Growth Trust (SIGT)
Director name: Mr Jimmy McCulloch
Amount purchased: 25,000 @ 149.00p
Value: £37,250

Top Director Sells

Datatec Ltd. (DI) (DTC)
Director name: Mr Jens P Montanana
Amount sold: 232,118 @ 353.38p
Value: £820,259

Powerflute Oyj (DI) (POWR)
Director name: Mr Dermot S. Smurfit
Amount sold: 100,000 @ 65.25p
Value: £65,250

Powerflute Oyj (DI) (POWR)
Director name: Mr Dermot S. Smurfit
Amount sold: 92,500 @ 67.06p
Value: £62,030

Henderson Group (HGG)
Director name: Mr Andrew Formica
Amount sold: 9,736 @ 283.84p
Value: £27,635