Seven of the eight directors of consumer electronics retailer Kesa Electronics have bought shares following yesterday's full year figures.
The biggest purchases were by chief executive Thierry Falque-Pierrotin, chairman David Newlands and finance director Dominic Platt. Falque-Pierrotin bought 100,000 shares at 115.22p (€1.40) each, which cost a total of £115,000. This is his total interest in the company.
Newlands bought his 84,000 shares at 119.1p each making a total investment of £100,000. Newlands owns 190,253 shares in Kesa.
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
Platt got his 30,000 shares at 118.1p each and they cost a total of just over £35,000. This is the first purchase of shares by Platt, who joined Kesa in January 2010.
Kesa's revenue improved by 3.4% to £5.12bn, up 0.4% in constant currency, but down 1.5% on a like-for-like basis.
Adjusted profit rose 17.8% to £81.9m in the year to April 2010 and retail profit increased by 28% to £98.6m, thanks mainly to French retailer Darty, which ramped up retail profit by 14% to £118.4m. Comet made £11.5m, up 13.9%.
Singer forecasts profits of £116.5m for this year. Singer believes the plans of the newish management team appear credible but it bemoans a lack of targets set by the company.
Kesa intends to change its reporting currency to Euros.
Top Director Buys
Kesa Electricals (KESA) Director name: Mr Thierry Falque-PierrotinAmount purchased: 100,000 @ 115.22p Value: £115,220
Kesa Electricals (KESA) Director name: Mr David NewlandsAmount purchased: 84,000 @ 119.10p Value: £100,044
Capital & Counties Properties (CAPC) Director name: Mr Ian HawksworthAmount purchased: 44,573 @ 106.02p Value: £47,256
Kesa Electricals (KESA) Director name: Mr Dominic Platt Amount purchased: 30,000 @ 118.10p Value: £35,430
Chemring Group (CHG) Director name: Dr Dr David PriceAmount purchased: 1,000 @ 3,000.00p Value: £30,000
Standard Life (SL.) Director name: Mr Crawford S GilliesAmount purchased: 10,000 @ 184.56p Value: £18,456
Kesa Electricals (KESA) Director name: Mr Michel Leonard Amount purchased: 15,000 @ 118.10p Value: £17,715
Top Director Sells
African Minerals Limited (AMI) Director name: Mr Alan Stephen WatlingAmount sold: 948,485 @ 350.00p Value: £3,319,698
Whitbread (WTB) Director name: Mr Alan C ParkerAmount sold: 14,800 @ 1,522.00p Value: £225,256
Banco Santander SA (BNC) Director name: Mr Abel Matutes JuanAmount sold: 15,000 @ 769.71p Value: £115,456
Whitbread (WTB) Director name: Mr Alan C ParkerAmount sold: 5,200 @ 1,522.00p Value: £79,144
-
Reeves warned against property tax shake-up – 3 ways it could backfire on first-time buyersRachel Reeves reportedly has her eye on high-end property taxes in the upcoming Budget, but there are concerns a shake-up could unintentionally hamper those trying to get on the housing ladder
-
Average Brits want to retire five years before they can – who has the widest retirement gap?Brits are expecting to work for longer than ever but there are big disparities in the number of extra working years predicted. A small tweak could help close the gap
