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.
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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.
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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
