Director dealings: Contracts to boost profits for office firm

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OFFICE supplies and business services group Office2office saw sales rise strongly last year although higher costs ate into profits.

The company said the benefits of a number of significant contracts secured or retained across the group will be seen in 2012.

The agreements include deals with the Royal Bank of Scotland and NHS Supply Chain.

Office2office said trading for the first quarter of 2013 had been in line with management expectations.

Chief executive Simon Moate said a “great deal of progress had been made during the year, having delivered a robust revenue performance”.

Following the results, Hugh Cawley, group finance director, went into the market to buy 20,000 shares at 98.5p each.

• Adrian Green, group finance director of Abbey Protection, has sold 13,750 shares at 113.25p each.

His wife, Tanya Green, sold 12,750 shares at the same price.

The couple still hold 1.8 million shares in the specialist insurance and consultancy group.

• Andrew Black, a non- executive director of oil technology group Hydrodec, purchased two million shares at 11p per share.

He now holds 83.3 million shares – 19.7 per cent of the company.

• Phil Madden, finance director of Forbidden Technologies, has purchased 36,260 shares at an average price of 27.31p each.

He now holds 257,638 shares in the company, which specialises in video-editing services.

• David Forsey and Robert Mellor, chief executive and finance director of retailer Sports Direct, have sold shares in the company. They disposed of 803,922 shares each at 425p.

• Alexander Chistyakov, president of Russia-focused oil and gas group Ruspetro, has purchased 656,521 shares in the company at 15.91p a piece.

• Dominique Yates, chief financial officer of office space firm Regus, has seen his family’s stake in the firm rise after his wife bought 100,000 shares at 157p each.

Last week the company, which opened its 1,500th business centre worldwide in Pune, India, said it was seeing increasing demand.