Halfords new chairman starts assembling stake

Jun 30, 2009

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Halfords' new chairman Dennis Millard has bought his first shares in the car parts and bicycle retailer, spending more than £45,000.

He bought 15,000 shares at 310p a time.

The company's shares have edged up since last week, when chief executive David Wild took 20,000 shares at 305p a time.

Earlier this month, Halfords upped its dividend after delivering a slightly better than expected 2.4% rise in full-year profits.

Profit before tax and exceptional items for the 52 weeks to 27 March was £92.4m compared with the previous year's £90.2m. Market consensus was for adjusted profit before tax of £91.5m.

Profits rose despite a 0.3% drop in revenue to £794.7m, also better than the expected £790m, with like-for-like sales down by 3.3%.

Millard, who joined the company as chairman on 28 May, is also chairman of newspapers and magazines wholesaler Smiths News.

Top Director Buys

Halfords Group (HFD) Director name: Mr Dennis H Millard Amount purchased: 15,000 @ 310.20p

Value: £46,530

Billington Holdings (BILN) Director name: Mr Peter Kenneth Hems Amount purchased: 15,000 @ 150.00p

Value: £22,500

DCC (DCC) Director name: Mr Kevin Melia Amount purchased: 1,250 @ € 14.85

Value: € 18,562

Portrait Software (PST) Director name: Mr Paul William Hewitt Amount purchased: 150,080 @ 10.90p

Value: £16,359

Styles & Wood (STY) Director name: Mr Paul Mitchell Amount purchased: 62,020 @ 25.00p

Value: £15,505

Huntsworth (HNT) Director name: Mr Eugene P. Beard Amount purchased: 25,000 @ 55.60p

Value: £13,900

Portrait Software (PST) Director name: Mr Richard Goat Amount purchased: 122,311 @ 10.90p

Value: £13,332

Turbotec Products (TRBO) Director name: Mr Robert Lowe Amount purchased: 50,000 @ 24.00p

Value: £12,000

Turbotec Products (TRBO) Director name: Mr Sunil Raina Amount purchased: 50,000 @ 22.00p

Value: £11,000

Northern Venture Trust (NVT) Director name: Mr Hugh Younger Amount purchased: 18,000 @ 56.00p

Value: £10,080

Top Director Sells

IPSA Group (IPSA) Director name: Mr Peter Richard Stephen Earl Amount sold: 312,500 @ 16.00p

Value: £50,000

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