Lamprell chairman buys shares as full-year profits double

LONDON (ShareCast) - The non-executive chairman of Lamprell (LSE: LAM.L - news) bought some shares in the group after reporting that its full-year profits more than doubled thanks to strong project deliveries. John Kennedy purchased 18,505 shares for an individual price of 101.04p, spending a total of £18,697.

Following the purchase, Kennedy holds 1.6m shares in the energy group.

On Thursday, the group released its results for 2014, where it saw its profits before tax rise to $93.7m from $37.8m the year before.

Kennedy said 2014 was a year of "outstanding performance", driven by costs savings and favourable phasing of the construction cycles.

Top Director Buys 1pm (OPM) Director name: Mr Ronald Russell Amount purchased: 40,000 @ 54.48p Value: £21,788 1pm (OPM) Director name: Mr Ronald Russell Amount purchased: 40,000 @ 54.48p Value: £21,788 Lamprell (LAM) Director name: Mr John Kennedy Amount purchased: 18,505 @ 101.04p Value: £18,697 IMI (IMI (LSE: IMI.L - news) ) Director name: Mr Roberto Quarta Amount purchased: 1,053 @ 1,353.50p Value: £14,252 Top Director Sells Partnership Assurance Group (PA.) Director name: Dr Ian Owen Amount sold: 1,400,000 @ 141.46p Value: £1,980,440