Lookers boss adds to stake

Peter Jones, the chief executive of motor dealer Lookers, has added to his stake in the company.

He has bought 300,000 shares at 59p each. Jones now owns 2.281m shares in Lookers, which is equivalent to 0.59% of the company.

Jones bought 1.42m shares at 40p each in the company's placing and open offer than raised £80.7m gross last July. This means he has invested just over £736,000 in Lookers shares in the past year.

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

Sign up

Jones became chief executive of Lookers at the end of September 2009. he was previously chief executive of CB Bramall.

Adjusted profit before tax for the year ended 31 December 2009 increased by 102% to £28.3m. Revenue on a like for like basis increased by 4.2% to £1.75bn.

Jones said, "Although we believe that market conditions will remain challenging in 2010, we are encouraged to report that we have made a strong start to the year."

Top Director Buys

Lookers (LOOK) Director name: Mr Peter JonesAmount purchased: 300,000 @ 59.00p Value: £177,000

Standard Life (SL.) Director name: Mr David GrigsonAmount purchased: 13,335 @ 208.72p Value: £27,833

Top Director Sells

Xstrata (XTA) Director name: Mr Michael DavisAmount sold: 465,388 @ 1,165.90p Value: £5,425,959

Barclays (BARC) Director name: Mr Robert E Diamond JrAmount sold: 792,576 @ 347.90p Value: £2,757,372

Barclays (BARC) Director name: Mr Robert E Diamond JrAmount sold: 371,079 @ 347.90p Value: £1,290,984

Close Brothers Group (CBG) Director name: Mr Stephen R HodgesAmount sold: 99,896 @ 775.80p Value: £774,993

Pearson (PSON) Director name: Mr Will EthridgeAmount sold: 44,040 @ 997.50p Value: £439,299

Barclays (BARC) Director name: Mr John S VarleyAmount sold: 115,120 @ 347.90p Value: £400,502

Discovery Metals (CDI) (DME) Director name: Mr Jeremy ReadAmount sold: 390,975 @ 44.96p Value: £175,782

Barclays (BARC) Director name: Mr John S VarleyAmount sold: 82,984 @ 347.90p Value: £288,701

Barclays (BARC) Director name: Mr Chris LucasAmount sold: 58,302 @ 347.90p Value: £202,833

Barclays (BARC) Director name: Mr John S VarleyAmount sold: 49,064 @ 347.90p Value: £170,694