Marshalls (MSLH) has defied the malaise impacting the housing and construction markets by focusing sales efforts on the public sector. The landscape product supplier has managed to expand the operating margin for seven consecutive years, posting a 16 per cent rise in profits during the first half. The shares have jumped by more than half over the past 12 months and Gillian Coffey, wife of chief executive Martyn Coffey, has taken advantage of that strength, selling £0.8m in shares in the group.
Despite margin progress, management is keen to press on with investing in the business to save further costs. This year, £23m has been earmarked for spending on areas including improving manufacturing efficiency, integrating artificial intelligence into its systems and product research and development. Meanwhile, robust cash generation – converting around 90 per cent of adjusted cash profits during the first half – supported a rise in the half-year dividend of almost a fifth on the prior year.
Buys | |||||||
Company | Director | Date | No of shares | Price (p) | Value (£) | Holding (shares) | Holding (%) |
Autins | Adam Attwood (ch) | 22 Aug 19 | 75,000 | 20 | 15,000 | 600,000 | 1.515 |
Autins | Gareth Kaminski-Cook (ceo) | 22 Aug 19 | 150,000 | 20 | 30,000 | 180,228 | 0.455 |
Autins | James Larner (cfo) | 22 Aug 19 | 25,000 | 20 | 5,000 | 25,000 | 0.063 |
Autins | Neil MacDonald | 22 Aug 19 | 125,000 | 20 | 25,000 | 125,000 | 0.316 |
BHP | Susan Kilsby | 23 Aug 19 | 2,900 | 1713 | 49,677 | 2,900 | 0.000 |
Brewin Dolphin | Siobhan Boylan (cfo) | 28 Aug 19 | 33,118 | 300.4 | 99,486 | 53,400 | 0.018 |
Carr's | Ian Wood | 22 Aug 19 | 10,000 | 130.9 | 13,090 | 20,000 | 0.022 |
CRH | Richard Boucher | 22 Aug 19 | 6,750 | 29.17 | 196,898 | 13,800 | 0.002 |
Intelligent Ultrasound* | Ian Whittaker (coo) | 28 Aug 19 | 25,000 | 10 | 2,500 | 374,982 | 0.170 |
Intelligent Ultrasound* | Nicholas Sleep (cto) | 28 Aug 19 | 100,000 | 10 | 10,000 | 326,471 | 0.148 |
Intelligent Ultrasound* | Stuart Gall (ceo) | 28 Aug 19 | 200,000 | 10 | 20,000 | 828,236 | 0.376 |
Intelligent Ultrasound* | Wilson Jennings (fd) | 28 Aug 19 | 100,000 | 10 | 10,000 | 394,118 | 0.179 |
Intelligent Ultrasound* | Nazar Amso | 28 Aug 19 | 50,000 | 10 | 5,000 | 1,134,000 | 0.515 |
Intelligent Ultrasound* | Nicholas Avis | 28 Aug 19 | 25,000 | 10 | 2,500 | 225,000 | 0.102 |
Lookers | Tony Bramall | 23 Aug 19 | 50,000 | 49 | 24,500 | 72,208,051 | 18.551 |
Lookers | Tony Bramall | 28 Aug 19 | 50,000 | 50 | 25,000 | 72,983,051 | 18.750 |
Lookers | Tony Bramall | 22 Aug 19 | 1,020,000 | 50.1792 | 511,828 | 72,158,051 | 18.538 |
Lookers | Tony Bramall | 27 Aug 19 | 725,000 | 51.75 | 375,188 | 72,933,051 | 18.737 |
Norman Broadbent | Michael Brennan (ceo) | 23 Aug 19 | 166,666 | 3 | 5,000 | 1,095,481 | 2.033 |
Norman Broadbent | Brian Stephens | 23 Aug 19 | 166,666 | 3 | 5,000 | 334,621 | 0.621 |
Norman Broadbent | Fiona McAnena | 23 Aug 19 | 33,333 | 3 | 1,000 | 63,333 | 0.118 |
Norman Broadbent | William Gerrand (cfo & coo) | 23 Aug 19 | 66,667 | 3 | 2,000 | 66,667 | 0.124 |
OptiBiotix Health | Frederic Narbel | 28 Aug 19 | 17,000 | 50 | 8,500 | 29,000 | 0.034 |
Oxford BioDynamics | Stephen Diggle (ch) | 27 Aug 19 | 40,000 | 90 | 36,000 | 11,730,225 | 12.673 |
Oxford BioDynamics | Stephen Diggle (ch) | 28 Aug 19 | 4,500 | 90 | 4,050 | 11,734,725 | 12.678 |
Redcentric | Jonathan Kempster | 28 Aug 19 | 10,249 | 77.4 | 7,933 | 10,249 | 0.007 |
Scottish American Investment Co♥ | Nicholas Macpherson | 23 Aug 19 | 6,000 | 410 | 24,600 | 45,000 | 0.031 |
South32 | Keith Rumble | 27 Aug 19 | 35,700 | 135.3837 | 48,332 | 161,380 | 0.003 |
South32 | Xolani Mkhwanazi | 28 Aug 19 | 18,900 | 26.1153 | 493,579 | 53,237 | 0.001 |
Tyman | Jo Hallas (ceo) | 28 Aug 19 | 25,965 | 202 | 52,449 | 74,127 | 0.038 |
Ultra Electronics | William Rice (ch) | 28 Aug 19 | 2,313 | 2150 | 49,730 | 2,313 | 0.003 |
Westmount Energy* | Gerard Walsh (ch) | 28 Aug 19 | 2,246,538 | 13 | 292,050 | 10,921,538 | 10.580 |
Wood Group (John) | Roy Franklin | 22 Aug 19 | 9,000 | 405 | 36,450 | 15,000 | 0.002 |
Sells | |||||||
Company | Director | Date | No of shares | Price (p) | Value (£) | Holding (shares) | Holding (%) |
4imprint | Andrew Scull | 23 Aug 19 | 2,486 | 2803.78 | 69,702 | 45,000 | 0.160 |
4imprint | Andrew Scull | 23 Aug 19 | 1,000 | 2840 | 28,400 | 47,486 | 0.169 |
4imprint | Andrew Scull | 23 Aug 19 | 515 | 2860 | 14,729 | 50,696 | 0.181 |
4imprint | Andrew Scull | 23 Aug 19 | 210 | 2862.5 | 6,011 | 48,486 | 0.173 |
4imprint | Andrew Scull | 23 Aug 19 | 2,000 | 2870 | 57,400 | 48,696 | 0.173 |
4imprint | Andrew Scull | 23 Aug 19 | 550 | 2890 | 15,895 | 51,211 | 0.182 |
CRH† | Albert Manifold (ceo) | 22 Aug 19 | 102,621 | 29 | 2,976,009 | na | na |
Marshalls♥ | Martyn Coffey (ceo) | 22 Aug 19 | 118,498 | 679 | 804,601 | 266,461 | 0.133 |
TBC Bank | Giorgi Shagidze (cfo) | 27 Aug 19 | 15,000 | 1251 | 187,650 | 63,025 | 0.115 |
*Placing/tender/open offer ♥Spouse/connected party †Mr Manifold's share sale is denominated in euros £1=€1.10 |