Tesco marketing boss' £3.2m profit

Tesco's commercial and marketing director Richard Brasher has banked a profit of £3.2m on the sale of options he exercised on 24 November.

He exercised options over eight separate tranches of shares. Seven tranches were at varying prices and the eighth was for no cost. Brasher retained 361,950 shares he acquired for nothing. These shares are worth £1.57m at the current share price. Prior to this Brasher owned 39,743 shares.

Back in May 2009, Brasher raised just over £292,000 from the sale of shares issued to him under the Tesco executive incentive plan.

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Brasher is 46 years old and he has worked at Tesco for 23 years.

Tesco is due to release a third quarter trading statement on 8 December.

Tesco has announced it will sell the Apple iPhone in the UK this Christmas and has pledged to 'bring a bit of Tesco value to the iPhone', though it remains locked in negotiations with Apple over pricing and supply.

Tesco has big overseas expansion plans. It is teaming up with a group of Asian investors to build three shopping centres in China.

The supermarkets operator will form a 50-50 joint venture with the HSBC Nan Fung China Real Estate Fund, Metro Holdings of Singapore and Nan Fung Group of Hong Kong to open malls at Fushan in the north-east of the country and at Anshan and Qinhuangdao in the North.

Tesco will invest about £100m in the project according to reports, with each of the centres housing a super-sized Tesco supermarket as its key tenant.

Top Director Buys

Fidessa (FDSA) Director name: Mr Andy MalpassAmount purchased: 10,000 @ 1,095.00p Value: £109,500

Lupus Capital (LUP) Director name: Mr Jamie PikeAmount purchased: 260,000 @ 38.62p Value: £100,412

North River Resources (NRRP) Director name: Mr Martin Stephen FrenchAmount purchased: 1,666,667 @ 4.00p Value: £66,667

W H Ireland (WHI) Director name: Mr Lord MarlandAmount purchased: 125,000 @ 50.00p Value: £62,500

Intermediate Capital Group (ICP) Director name: Mr Philip KellerAmount purchased: 7,000 @ 284.00p Value: £19,880

Acal (ACL) Director name: Mr Nicholas JefferiesAmount purchased: 15,492 @ 128.00p Value: £19,830

Top Director Sells

WH Smith (SMWH) Director name: Ms Kate SwannAmount sold: 296,450 @ 523.72p Value: £1,552,568

Tesco (TSCO) Director name: Mr Richard BrasherAmount sold: 345,261 @ 427.87p Value: £1,477,268

Tesco (TSCO) Director name: Mr Richard BrasherAmount sold: 296,150 @ 427.87p Value: £1,267,137

WH Smith (SMWH) Director name: Ms Kate SwannAmount sold: 220,000 @ 526.58p Value: £1,158,476

Tesco (TSCO) Director name: Mr Richard BrasherAmount sold: 255,795 @ 427.87p Value: £1,094,470

Tesco (TSCO) Director name: Mr Richard BrasherAmount sold: 251,528 @ 428.32p Value: £1,077,345

First Quantum Minerals (FQM) Director name: Mr Andrew AdamsAmount sold: 9,900 @ 4,290.72p Value: £424,781

Tesco (TSCO) Director name: Mr Richard BrasherAmount sold: 151,900 @ 427.87p Value: £649,935

SSL International (SSL) Director name: Mr Garry WattsAmount sold: 72,260 @ 721.98p Value: £521,703

Tesco (TSCO) Director name: Mr Richard BrasherAmount sold: 106,613 @ 427.36p Value: £455,621