Douglas McCallum, a Non-Executive Director of Ocado, has purchased a round of 68,000 shares in the company less than two weeks after the online grocer said the third quarter was particularly hard to forecast due to a combination of the Jubilee and the Olympics.
McCallum handed over £49,654 for the shares which he purchased at 73.02p a pop. These are his only shares in the firm.
In a statement at the end of June, the firm said revenues in the first half increased 11.4% to £308m, but profits were flat at £0.2m due to customers taking advantage of cut price offers, prompting an 11% decline in the share price.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Speaking at the end of June, Chief executive Tim Steiner said: "The grocery market and the general economic picture remain challenging and uncertain.
"The third quarter is particularly hard to forecast as we have already seen some disruption from the Jubilee events, and there is uncertainty as to the effect of the forthcoming Olympic Games, but we expect sales growth to increase in second half 2012 overall."
The stock has lost 65% of its value in the last year, equal to 123p, and dropped over 27% in the last month, equal to 26p.
Top Director Buys
Ocado Group (OCDO)
Director name: Mr Douglas McCallum
Amount purchased: 68,000 @ 73.02p
Value: £49,654
Aqua Bounty Technologies Inc. (Reg S) (ABTX)
Director name: Mr Richard John Clothier
Amount purchased: 196,850 @ 7.62p
Value: £15,000
Top Director Sells
M. P. Evans Group (MPE)
Director name: Mr Peter E Hadsley-Chaplin
Amount sold: 217,500 @ 505.00p
Value: £1,098,375
M. P. Evans Group (MPE)
Director name: Mr Philip A Fletcher
Amount sold: 212,500 @ 505.00p
Value: £1,073,125
NR
