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Dechra directors' financial plans

Directors in the veterinary products group have sold near the five-year high
Dechra directors' financial plans

Shareholders in Dechra Pharmaceuticals (DPH) were the beneficiaries of a 24 per cent hike in the annual dividend, but it’s clear that the veterinary products group will also be looking to attract potential investors through an intensified focus on margins.

IC TIP: Hold at 2,754p

A 200 basis point increase in the gross margin in the year to June reflected the impact of recently acquired businesses, but the group will be looking to bump up unit profitability by bringing more of its production in-house, rather than relying on third-party manufacturers. Earlier this month saw the opening of the group’s solar powered plant at its subsidiary's Genera manufacturing operation in Zagreb, Croatia. The development was part-funded by EU (i.e. the taxpayer), and it should not only reduce costs, but also boost production volumes in the coming years.

Buys       
CompanyDirectorDateNo of sharesPrice (p)Value (£)Holding (shares)Holding (%)
Abcam Gavin Wood (cfo)13 Sep 192,500115728,92514,4120.007
Advanced Medical Solutions  Christopher Meredith (ceo)13 Sep 198,80022419,7121,503,3770.700
Angus Energy♥ George Lucan (md)17 Sep 191,455,7981.36719,9011,455,7980.269
Arena Events  Gregory Lawless (ceo)13 Sep 19100,0001818,0007,024,0884.600
Benchmark Holdings Peter George (ch)13 Sep 191,000,00047470,0001,000,0000.179
Benchmark Holdings Yngve Myhre13 Sep 1975,0004735,250400,0000.072
BT  Philip Jansen (ceo)16 Sep 19584,000171998,6402,840,6020.029
Character Group David Harris16 Sep 194,50036816,56064,6810.303
Craneware George Elliott (ch)17 Sep 191,500220033,00011,5000.043
Craneware Keith Neilson (ceo)17 Sep 194,527220099,5943,387,17412.687
Craneware Ron Verni17 Sep 191,095220024,0901,0950.004
Craneware Colleen Blye17 Sep 19547220012,0345470.002
Craneware Russ Rudish17 Sep 191,095220024,0901,0950.004
Cropper (James)♥ Martin Thompson (md)16 Sep 191,200122514,70031,1270.326
EJF Investments Joanna Dentskevich (ch)13 Sep 1929,00017249,88029,0000.045
EnQuest Amjad Bseisu (ceo)13 Sep 19896,79319.3173,081172,453,86710.172
GB Group Nicholas Brown (md)18 Sep 1932,521556180,8171,024,7170.530
Hansa Investment Co Jonathan Davie (ch)12 Sep 1925,00019047,50045,0000.113
Hunting Keith Lough13 Sep 194,00048819,5209,0000.005
Intermediate Capital  Michael Nelligan17 Sep 1910,0001415.1141,510140,0420.048
ITV Salman Amin18 Sep 1912,800125.0916,01242,5950.001
Luceco♥ Matthew Webb (ceo)13 Sep 1936,01396.734,825215,0780.134
Luceco♥Matthew Webb (ceo)12 Sep 1912,9779712,588179,0650.111
Marlowe Mark Adams (fd)18 Sep 197,500399.529,9637,5000.018
Midwich  Stephen Fenby (md)13 Sep 1925,000479119,75019,125,00023.914
Miton Global Opportunities Ekaterina Thomson 16 Sep 198,000261.120,88814,0000.050
Oakley Capital Investments Laurence Blackall12 Sep 19100,000235235,000300,0000.147
Oxford BioMedica Martin Diggle 13 Sep 1910,00054654,60011,668,64015.200
Oxford BioMedica Andrew Heath13 Sep 192,00055611,12052,0000.068
Oxford BioMedica Andrew Heath13 Sep 193,00056817,04055,0000.072
Oxford BioMedica Martin Diggle 12 Sep 1917,953577103,58911,658,64015.187
Oxford BioMedica Stuart Paynter (cfo)13 Sep 193,39558619,8956,7700.009
Paragon Banking  Finlay Williamson13 Sep 193,000467.702314,0313,0000.001
Quixant Gary Mullins17 Sep 196,41015610,0002,209,4813.326
Quixant Guy Van Zwanenberg18 Sep 191,750161.752,83127,8370.042
Quixant Gary Mullins17 Sep 196,1721629,9992,215,6533.335
Quixant Jonathan Jayal (ceo)18 Sep 192,500162.754,069365,2000.550
Quixant Nicholas Jarmany 18 Sep 19305,000163497,15011,175,76316.822
Quixant Michael Peagram (ch)17 Sep 1910,00016316,300253,6740.382
Quixant Jonathan Jayal (ceo)18 Sep 192,5001654,125362,7000.546
Real Estate Investors John Crabtree (ch)16 Sep 1945,90153.924,741272,5670.146
Sirius Minerals Christopher Fraser (ceo)18 Sep 19250,0004.008810,022123,997,3681.770
Springfield Properties Colin Rae17 Sep 1920,00011022,00020,0000.021
Stagecoach  Karen Thomson 13 Sep 1911,07113214,61411,0710.002
UNITE  Richard Akers13 Sep 192,0001041.8920,8382,0000.001
Zoetic International Nick Tulloch (ceo)12 Sep 19400,0004.718,800600,0000.406
Sells       
CompanyDirectorDateNo of sharesPrice (p)Value (£)Holding (shares)Holding (%)
Berkeley Group♥ Glyn Barker13 Sep 194,0804080.789166,4966,5400.005
Berkeley Group Glyn Barker13 Sep 191,8024160.95874,98010,6200.008
Dechra Pharmaceuticals Tony Rice (ch)17 Sep 1920,0002909.968581,99420,0000.019
Dechra Pharmaceuticals Ian Page (ceo)17 Sep 19200,0002916.955,833,900586,6500.571
Hiscox♥  Robert Childs (ch)18 Sep 194001640.82936,5631,273,4100.441
Hiscox♥ Robert Childs (ch)18 Sep 194001640.82936,5631,273,0100.441
Hiscox♥ Robert Childs (ch)18 Sep 1940,6001640.8293666,1771,232,4100.427
Hiscox Robert Childs (ch)18 Sep 1940,6001640.8293666,1771,191,8100.413
Motorpoint*†David Shelton18 Sep 192,396,7262105,033,12500.000
Redrow Barbara Richmond (fd)13 Sep 1950,000628.5314,250539,5200.153
Schroders Michael Dobson (ch)16 Sep 1940,1853150.181,265,900214,9650.076
United Utilities  Russ Houlden (cfo)13 Sep 197,300778.0156,79537,0490.005
        
*Placing/tender/open offer ♥Spouse/connected party      
†Shares sold via Shoby Investments Partnership. Transaction pertained to divorce proceedings.