John von Spreckelsen, Chairman of chocolate retailer Thorntons, has bought up 400,000 shares in the firm, one week after it reported that its pre-tax profit more than halved after heavy discounting.
Spreckelsen, who last year announced his intention to quit the firm before the end of September, bumped up his stake in the company to 2.77%, equivalent to more than 1.89m shares, with the £99,440 transaction.
The Chairman, who joined the firm midway through 2006, bought the shares over two days at an average price of 24.855p.
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
In its results announced on February 15th, the firm announced that it waived its interim dividend payment after profit before tax and exceptional items fell to £3.1m for the 28 weeks ended 7 January 2012 from £8.4m in 2010. Revenues for the period declined to £130m from £133.5m previously.
The group, which last year closed a string of its shops, said sales in its own stores dropped by 7.9% to £68.3m in the six-month period.
Net debt at period end was £16.2m compared to £14m the year before.
Top Director Buys
New City High Yield Fund Ltd. (NCYF)
Director name: Mr Gavin Breeze
Amount purchased: 320,000 @ 60.16p
Value: £192,512
Thorntons (THT)
Director name: Mr John Von Spreckelsen
Amount purchased: 400,000 @ 24.86p
Value: £99,440
New City High Yield Fund Ltd. (NCYF)
Director name: Mr Gavin Breeze
Amount purchased: 100,000 @ 59.40p
Value: £59,400
SEGRO (SGRO)
Director name: Mr Nigel Rich
Amount purchased: 10,000 @ 232.99p
Value: £23,299
FFastFill (FFA)
Director name: Mr Hamish Purdey
Amount purchased: 150,000 @ 10.75p
Value: £16,125
Pinnacle Telecom Group (PINN)
Director name: Mr Alan J Bonner
Amount purchased: 3,670,659 @ 0.38p
Value: £13,949
1pm (OPM)
Director name: Mr Ronald Russell
Amount purchased: 10,000,000 @ 0.100p
Value: £10,000
Top Director Sells
Energy XXI (Bermuda) (Di) (EXXI)
Director name: Mr William Colvin
Amount sold: 7,000 @ $38.62
Value: $270,340
Rathbone Brothers (RAT)
Director name: Mr Richard P Lanyon
Amount sold: 3,000 @ 1,275.00p
Value: £38,250
SThree (STHR)
Director name: Mr Russell Clements
Amount sold: 5,660 @ 294.50p
Value: £16,669
FFastFill (FFA)
Director name: Mr Hamish Purdey
Amount sold: 150,000 @ 10.75p
Value: £16,125
Rathbone Brothers (RAT)
Director name: Mr Richard Loader
Amount sold: 1,000 @ 1,275.00p
Value: £12,750
Rathbone Brothers (RAT)
Director name: Mr Richard I Smeeton
Amount sold: 1,000 @ 1,275.00p
Value: £12,750
SThree (STHR)
Director name: Mr Alex Smith
Amount sold: 4,203 @ 294.50p
Value: £12,378
-
FTSE 100 hits record highs – why is it rising and will we see more gains?Advice UK equities have been described as unloved for a long time but as the FTSE 100 hits new highs, we explain if now is the time to buy British.
-
How to invest in copperIt may be time to invest in copper as the red metal appears poised for a big jump. Dominic Frisby looks at what should investors should buy
