Nigel Wray, the entrepreneur who sits on the board of Domino's Pizza, has sold more than £9m in shares in the pizza delivery company.
He offloaded 2m shares at 470p a time, benefitting from a strong rise in the share price since his last big sale of shares. Back in June he pocketed nearly £17m as he sold 4.7m shares at 360p a go.
Domino's has proved to be one of the most recession-proof stocks on the market, benefitting from people's tendency to seek small comforts as they cut back on more expensive luxuries.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Get 6 issues 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 July the company posted a 30% rise in half-year profits to £17m as revenues soared.
Domino's has been rewarding its senior staff for the strong performance. It announced today that it has allocated more than 1.1m shares among chief executive Chris Moore, chief financial officer Lee Ginsberg and Gareth Franks, a director of the company's main operating subsidiary.
Domino's Pizza is a spin-off of the US company of the same name. It operates about 550 stores in Britain and Ireland.
Wray still has about 18.3m shares in Domino's, about 11.35% of the company. He also has stakes in several other companies, and is the chairman of Saracens Rugby Club.
Top Director Buys
Zenergy Power (ZEN) Director name: Ms Karen ChandlerAmount purchased: 25,000 @ 3,675.00p Value: £918,750
Metalrax Group (MRX) Director name: Mr Andrew RichardsonAmount purchased: 2,116,776 @ 4.00p Value: £84,671
Metalrax Group (MRX) Director name: Mr Andrew John WalkerAmount purchased: 2,000,000 @ 4.00p Value: £80,000
Metalrax Group (MRX) Director name: Mr Gerard Bernard WainwrightAmount purchased: 2,000,000 @ 4.00p Value: £80,000
Metalrax Group (MRX) Director name: Mr Ian PalingAmount purchased: 571,429 @ 4.00p Value: £22,857
Environmental Recycling Technologies (ENRT) Director name: Mr Ken BrooksAmount purchased: 852,125 @ 2.25p Value: £19,173
Marechale Capital (MAC) Director name: Mr Mark W A Warde-NorburyAmount purchased: 905,000 @ 1.25p Value: £11,312
Hardy Underwriting Bermuda (HDU) Director name: Mr Allan DunkleAmount purchased: 5,000 @ 216.00p Value: £10,800
Top Director Sells
RCG Holdings (RCG) Director name: Dr Raymond ChuAmount sold: 5,000,000 @ 40.41p Value: £2,020,500
Domino's Pizza UK & IRL (DOM) Director name: Mr Nigel WrayAmount sold: 2,000,000 @ 470.00p Value: £9,400,000
Genus (GNS) Director name: Mr Richard WoodAmount sold: 154,639 @ 770.00p Value: £1,190,720
Homeserve (HSV) Director name: Mr Richard HarpinAmount sold: 151,101 @ 471.93p Value: £713,091
Genus (GNS) Director name: Mr Ian FarrellyAmount sold: 17,182 @ 770.00p Value: £132,301
Warning as Brits face €6,900 fine if they fail to follow new Spanish travel insurance rule
Rachel Reeves to announce permanent 95% mortgage guarantee scheme
