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Johannesburg - Directors at JSE-listed chemicals firm Omnia have purchased R900 000 worth of shares in the company, following the release of the company's interim results on Wednesday.
Over the last 72 hours, non-executive director Dr Willem Marais spent R150 000 buying shares at 5 000c a share, while Edu Cloete spent R745 000 buying two tranches at 4 900c and 5 050c.
On Friday, Omnia shares were trading up 6% (300c) to trade at 5 200c per share.
On Wednesday Omnia released its interim results for the six-month period ended September 30 2008.
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The company announced a 78% increase in revenue to R5.5bn, and a rise of 209% in operating profit to R594m. The interim dividend also increased by 20% to 100c per share.
When the company released its interim figures, it said: "The group expects a considerable improvement in earnings for the year ending March 2009, compared with those achieved in the financial year ended March 2008."
One of the factors that the company said could contribute to this improved operating performance was a decline in global oil prices, which would "impact positively on prices of downstream petrochemical products and their derivatives".
In the quarter ending September 30 2008, unit trusts were sizeable buyers of Omnia stock. Funds added 475 000 units to their portfolio over this period.
- Fin24.com