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Marshalls chief's wife sells £0.8m

Shares in the landscape products supplier have jumped by more than half over the past 12 months
September 5, 2019

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.

IC TIP: Hold at 684p

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       
CompanyDirectorDateNo of sharesPrice (p)Value (£)Holding (shares)Holding (%)
Autins  Adam Attwood (ch)22 Aug 1975,0002015,000600,0001.515
Autins  Gareth Kaminski-Cook (ceo)22 Aug 19150,0002030,000180,2280.455
Autins  James Larner (cfo)22 Aug 1925,000205,00025,0000.063
Autins  Neil MacDonald22 Aug 19125,0002025,000125,0000.316
BHP  Susan Kilsby23 Aug 192,900171349,6772,9000.000
Brewin Dolphin  Siobhan Boylan (cfo)28 Aug 1933,118300.499,48653,4000.018
Carr's Ian Wood22 Aug 1910,000130.913,09020,0000.022
CRH Richard Boucher22 Aug 196,75029.17196,89813,8000.002
Intelligent Ultrasound*Ian Whittaker (coo)28 Aug 1925,000102,500374,9820.170
Intelligent Ultrasound*  Nicholas Sleep (cto)28 Aug 19100,0001010,000326,4710.148
Intelligent Ultrasound*  Stuart Gall (ceo)28 Aug 19200,0001020,000828,2360.376
Intelligent Ultrasound*  Wilson Jennings (fd)28 Aug 19100,0001010,000394,1180.179
Intelligent Ultrasound*  Nazar Amso28 Aug 1950,000105,0001,134,0000.515
Intelligent Ultrasound*  Nicholas Avis28 Aug 1925,000102,500225,0000.102
Lookers Tony Bramall23 Aug 1950,0004924,50072,208,05118.551
Lookers Tony Bramall28 Aug 1950,0005025,00072,983,05118.750
Lookers Tony Bramall22 Aug 191,020,00050.1792511,82872,158,05118.538
Lookers Tony Bramall27 Aug 19725,00051.75375,18872,933,05118.737
Norman Broadbent Michael Brennan (ceo)23 Aug 19166,66635,0001,095,4812.033
Norman Broadbent Brian Stephens23 Aug 19166,66635,000334,6210.621
Norman Broadbent Fiona McAnena23 Aug 1933,33331,00063,3330.118
Norman Broadbent William Gerrand (cfo & coo)23 Aug 1966,66732,00066,6670.124
OptiBiotix Health Frederic Narbel28 Aug 1917,000508,50029,0000.034
Oxford BioDynamics Stephen Diggle (ch)27 Aug 1940,0009036,00011,730,22512.673
Oxford BioDynamics Stephen Diggle (ch)28 Aug 194,500904,05011,734,72512.678
Redcentric Jonathan Kempster28 Aug 1910,24977.47,93310,2490.007
Scottish American Investment Co♥Nicholas Macpherson23 Aug 196,00041024,60045,0000.031
South32 Keith Rumble27 Aug 1935,700135.383748,332161,3800.003
South32 Xolani Mkhwanazi28 Aug 1918,90026.1153493,57953,2370.001
Tyman Jo Hallas (ceo)28 Aug 1925,96520252,44974,1270.038
Ultra Electronics  William Rice (ch)28 Aug 192,313215049,7302,3130.003
Westmount Energy* Gerard Walsh (ch)28 Aug 192,246,53813292,05010,921,53810.580
Wood Group (John) Roy Franklin22 Aug 199,00040536,45015,0000.002
Sells       
CompanyDirectorDateNo of sharesPrice (p)Value (£)Holding (shares)Holding (%)
4imprint  Andrew Scull 23 Aug 192,4862803.7869,70245,0000.160
4imprint  Andrew Scull 23 Aug 191,000284028,40047,4860.169
4imprint  Andrew Scull 23 Aug 19515286014,72950,6960.181
4imprint  Andrew Scull 23 Aug 192102862.56,01148,4860.173
4imprint  Andrew Scull 23 Aug 192,000287057,40048,6960.173
4imprint  Andrew Scull 23 Aug 19550289015,89551,2110.182
CRH† Albert Manifold (ceo)22 Aug 19102,621292,976,009nana
Marshalls♥ Martyn Coffey (ceo)22 Aug 19118,498679804,601266,4610.133
TBC Bank  Giorgi Shagidze (cfo)27 Aug 1915,0001251187,65063,0250.115
        
*Placing/tender/open offer ♥Spouse/connected party †Mr Manifold's share sale is denominated in euros £1=€1.10