Latchways' Hearson sells again

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Date: Monday 29 Jan 2007

LONDON (ShareCast) - Safety harness specialist Latchways finished with losses Monday after boss David Hearson sold 10,000 shares in the group at 1,215.25p each.

The sale, which netted £121,500, leaves Hearson with just over 308,000, or 2.77% of the company.

He has been a canny seller of shares over the past few months, offloading thousands of shares at December’s all time high “in response to institutional demand”.

In November, the group said it will pay a special dividend of 30p per share as it continues to enjoy strong growth driven by health and safety regulations.

Profits in the half-year to September rose by 36% to £4.1m, up from £3m, on turnover up by 18% to £16.6m.

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Top Director Sells

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Director name: Mr Stephen P Webster
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Latchways (LTC)
Director name: Mr David Hearson
Amount sold: 10,000 @ 1,215.30p
Value: £121,530

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Value: £49,617

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Director name: Mr Peter Krens
Amount sold: 30,000 @ € 1.39
Value: € 41,706

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