Thomas Cook's chief executive, Manny Fontenla-Novoa, has splashed out nearly £100,000 on shares in the travel firm.
The Spanish-born businessman took 44,819 shares at 221.5p a time and now has 687,172.
His purchase of shares comes soon after Thomas Cook beat expectations with its results for the year to September 30, with an adjusted pre-tax profit of £308.2m, down slightly from £309.3m the previous year, as revenues climbed to £9.27bn from £8.75bn.
Subscribe to 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
Thomas Cook managed to weather the downturn by lifting ticket prices and reducing capacity. Thomas Cook also benefited from holidaymakers steering clear of the strong euro by heading to more exotic locations such as Turkey and Egypt.
Shares in the company have been steady since Fontenla-Novoa's last purchase, when he took 90,907 shares at 218.5p a time, but he has seen good gains on the 311,793 shares he took at 192.5p in January in the depths of the downturn.
Fontenla-Novoa, who moved to London from Spain at the age of 11, has been chief executive of the company since July 2007.
Top Director Buys
Thomas Cook Group (TCG) Director name: Mr Manny Fontela-NovoaAmount purchased: 44,819 @ 221.56p Value: £99,301
RCG Holdings (RCG) Director name: Dr Raymond ChuAmount purchased: 60,000 @ 88.14p Value: £52,884
UK Select Trust Ltd. (UKT) Director name: Mr David WarrAmount purchased: 30,000 @ 129.05p Value: £38,715
BlackRock Smaller Companies Trust (BRSC) Director name: Mr Robert Sinclair RobertsonAmount purchased: 10,000 @ 285.95p Value: £28,595
Top Director Sells
May Gurney Integrated Services (MAYG) Director name: Mr Michael DunnAmount sold: 950,000 @ 240.00p Value: £2,280,000
May Gurney Integrated Services (MAYG) Director name: Mr Ian FindlaterAmount sold: 700,000 @ 240.00p Value: £1,680,000
Education Development International (EDD) Director name: Mr Nigel M SnookAmount sold: 1,000,000 @ 135.00p Value: £1,350,000
Education Development International (EDD) Director name: Mr Barrie ClarkAmount sold: 350,000 @ 135.00p Value: £472,500
May Gurney Integrated Services (MAYG) Director name: Mr Timothy RossAmount sold: 163,375 @ 240.00p Value: £392,100
Jardine Matheson (Singapore) (JAR) Director name: Mr Simon L KeswickAmount sold: 6,000 @ $30.00 Value: $180,000
Education Development International (EDD) Director name: Dr Dr Jenifer Mary MoodyAmount sold: 67,312 @ 135.00p Value: £90,871
-
What happens if you can’t pay your tax bill, and what is "Time to Pay"?Millions are due to file their tax return this Friday as the self-assessment deadline closes. Though the nightmare is not over until you pay the taxman what you owe - or face a penalty. But what happens if you can't afford to pay HMRC your tax bill, and what is "Time to Pay"?
-
What does Rachel Reeves’s plan for growth mean for UK investors?Rachel Reeves says she is going “further and faster” to kickstart the UK economy, but investors are unlikely to be persuaded
