Whitbread chief executive Andy Harrison made a firm declaration of his faith in the firm, purchasing nearly £200,000-worth of shares on the same day the company admitted sales growth had slowed.
The Costa Coffee and Premier Inn owner disappointed investors after the figures suggested that even the company's coffee shops are starting to run out of steam.
Although total sales for the group's third quarter - the 13 weeks to December 1 - were up 11.4% on a like-for-like basis, sales compared to the previous half were down.
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Harrison, who purchased 13,338 shares at 1,490.00p each, said: "Although this is a reflection of the general economic climate, I would say that's pretty impressive growth in total sales."
Costa Coffee was Whitbread's best performing division, but saw LFL sales growth drop from 6.7% to 3.8% from one half the next, while sales at Premier Inn hotels grew just 2.6% in the third quarter compared to 5.2% in the previous half.
"Our like-for-like sales performance keeps us on track to deliver full year results in line with expectations," Harrison added.
Top Director Buys
Whitbread (WTB)
Director name: Mr Andy Harrison
Amount purchased: 13,338 @ 1,490.00p
Value: £198,736
BATM Advanced Communications Ltd. (BVC)
Director name: Dr Zvi Marom
Amount purchased: 1,000,000 @ 12.43p
Value: £124,300
Greencore Group (GNC)
Director name: Mr Alan Williams
Amount purchased: 150,000 @ €0.64
Value: €96,000
Northern Investors Co (NRI)
Director name: Mr John C Barnsley
Amount purchased: 11,089 @ 257.00p
Value: £28,499
Consort Medical (CSRT)
Director name: Mr Jim Dick
Amount purchased: 5,000 @ 544.53p
Value: £27,226
Total Produce (TOT)
Director name: Mr Frank Davis
Amount purchased: 31,828 @ 33.77p
Value: £10,748
Total Produce (TOT)
Director name: Mr John Frank Gernon
Amount purchased: 31,828 @ 33.77p
Value: £10,748
Total Produce (TOT)
Director name: Mr Carl McCann
Amount purchased: 31,828 @ 33.77p
Value: £10,748
Total Produce (TOT)
Director name: Mr Rory Byrne
Amount purchased: 30,075 @ 33.77p
Value: £10,156
Top Director Sells
Northern Investors Co (NRI)
Director name: Mr John C Barnsley
Amount sold: 11,839 @ 300.00p
Value: £35,517
Northern Investors Co (NRI)
Director name: Mr Frank Neale
Amount sold: 4,400 @ 300.00p
Value: £13,200
NR
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