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Home » UK Shares » Director Dealings » Director Dealings: Dunelm Group, Abingdon Health, Ocado

Director Dealings: Dunelm Group, Abingdon Health, Ocado

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James Norris reviews directors buying and selling shares in their own company in his weekly column.

  • Non exec buys 1.75m shares in Haydale Graphene Industries
  • Chief Executive sells 15k shares in Dunelm Group
  • Chief Executive sells 250k shares in Futura Medical
  • Big purchases at Abingdon Health
  • Non exec buys £7.4m of shares in Ocado Group

Haydale Graphene Industries (LON: HAYD) non-executive director David Banks has bought 1,750,000 shares in two tranches at 1.9p and 2p, for a total of £34,264. Haydale, a global technologies group that integrates graphene and other nanomaterials into next-generation industrial materials, posted mixed results in a July trading update, with revenues anticipated to be ahead of expectations and Ebitda losses ‘marginally behind’, while inflation costs and investments for this year are expected to offset an expected increase in revenues. At close of trading last Friday, the stock was priced at 1.9p, a return of -69.6% YTD and -76.2% over 12 months.

Dunelm Group (LON: DNLM) chief executive Nick Wilkinson last Thursday sold 15,616 shares at 750p per share, for a total of £117,120. However, non-executive director Andy Harrison bought 33,206 shares at 748p, paying £248,381. Last week the homeware retailer posted record full-year results, despite ‘challenging’ conditions. In the year to 2 July, pre-tax profit jumped 32.4% and total sales were up 16.2% on the year, having emerged from the pandemic as “a bigger, better business”, with a “tight operational grip and cost discipline”. At close of trading last Friday, the stock was priced at 782.5p, a return of -43.3% YTD and -46.6% over 12 months.

Futura Medical (LON: FUM) chief executive James Barder sold 250,000 shares at 45p each, for £113,000, after the shares had gained almost 70% over the past six months. Last week, Futura reported first half losses of 56%, saying they were mostly due to higher research and development costs, and said that it still had a cash runaway beyond the launch of its first product, MED3000. The company has yet to receive any revenue but is in the process of commercialising the product. At close of trading last Friday, the stock was priced at 41.9p, a return of 9.1% YTD and flat over 12 months.

Abingdon Health (LON: ABDX) chief executive Chris Yates last week bought 250,000 shares in seven tranches at a weighted average price of 627p each, for an aggregrate £1.57m, while non-executive chairman Christopher Hand bought 800,000 shares in two tranches at 634p per share, for just over £5m. The directors made the acquisitions just as Abingdon, the York-based developer and manufacturer of rapid tests, including Covid-19 lateral flow tests, announced in a trading update that its FY22 trading performance incurred a substantial loss as a result of a restructuring, including a programme of redundancies. However, in May the company announced a significant contract with a European client worth at least £2.7m in revenues in the first year, while the outstanding monies of £7.6m owed by the UK government were finally settled. At close of trading last Friday, the stock was priced at 775p, a return of -76.5% YTD and 78.5% over 12 months.

Ocado Group (LON: OCDO) non-executive director Jörn Rausing on 16 September bought 1,122,004 shares in two tranches at 645p and 668p, for a total of £7.4m. The shares were purchased by Apple III Limited, which is 100% owned by Apple III Trust, of which Rausing is a discretionary beneficiary. The billionaire Rausing family own the TetraPak packaging group, now part of Tetra Laval. Ocado, which develops warehousing technology and runs a grocery delivery firm in partnership with Marks & Spencer, is facing a difficult winter, with the cost-of-living crisis expected to dampen retail sales. At close of trading last Friday, the stock was priced at 671p, a return of -61.5% YTD and -61.9% over 12 months.

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Please note this article does not constitute investment advice. Investors are encouraged to do their own research beforehand or consult a professional advisor.

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