- Alfa Financial chairman and CEO sell over £9 million shares
- Combined deals represent around 3% of their holdings
- Renew director nets over half a million
Andrew Page, chairman of Alfa Financial Software (ALFA), a company providing mission critical software to the asset finance industry, sold 5.3 million shares netting him £8.4 million in proceeds.
The sale was made via CHP Software and consulting, a company controlled by Page that owns over 60% of Alfa Financial.
CEO Andrew Denton sold 437,675 shares at just under 160p which resulted in sale proceeds of £696,695. Denton owns just under 5% of the company.
Alfa Financial increased guidance (10 November) after noting strong performance in the first nine months of the year had continued into October.
Consequently, the company nudged up full year revenue expectations by an additional £1.5 million all of which is expected to fall through to operating profit.
Denton commented: ‘I am delighted that we continue to perform very strongly both operationally and financially and that our expectations for the year have increased further.
‘The strength of our order book, our sales execution and our pipeline continue to give us confidence in our future prospects.’
Analysts have pencilled in 10% growth in revenues to £91 million and net profit of £19.8 million, representing growth of 3%.
TAKING MONEY OFF THE TABLE
Andries Liebenberg, a director at engineering services firm Renew Holdings (RNWH:AIM), sold 80,000 shares on 8 December at an average price just under 700p resulting in proceeds of £559,497.
The sales leave Liebenberg with a holding of 47,718 shares in the company representing 0.06% of the issued capital.
Renew delivered record results (29 November) for the year to 30 September reflecting the core strengths of the group and the resilient nature of the business.
Revenues grew 7.3% to ££849 million while adjusted operating profit jumped nearly 15% to £58.8 million. The dividend was hiked by 6.3% to 17p per share.
Looking forward, Renew said positive trading momentum had continued into the new financial year and it entered 2023 with a strong order book driven by structural growth drivers.
