The chairman of Thorntons has spent £50,000 on shares in the chocolate retailer on the day it revealed "solid" first quarter numbers.
It was revealed today that John von Spreckelsen put his hand in his pocket Wednesday after telling the market Thorntons had a solid three months to end September.
He bought 40,000 shares at 124.4p each, taking his stake to 1.09m, or 1.6% of the company. The shares are now trading at their best in over a year.
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Total sales in the 14 weeks to 3 October rose 2.3% to £46.8m, with own store sales 1.9% higher at £27.1m. Like for like sales grew 1.3%.
Things would have been even better had Birthdays Ltd, a key customer, not gone bust in May. Franchise sales fell 15.2% to £2.9m.
"We are pleased to report satisfactory trading in the first quarter...particularly as the comparative period included both Woolworths and Birthdays as customers," chief executive Mike Davies said.
Top Director Buys
Value: £873,750
Value: £51,500
Value: £49,760
Value: £23,250
Value: £19,999
Value: £19,980
Value: £19,980
Value: £12,875
Top Director Sells
Value: $301,800
Value: $301,800
Value: $301,800
Value: $301,800
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