WH Smith finance boss sells more shares

WH Smith's financial director Robert Moorhead has sold nearly £240,000 worth of shares in the newsagent chain.

He offloaded 53,896 shares at 445.2p a time and now has 176,504.

The firm's shares have rallied since he last offloaded shares in February, pocketing 360.9p a time for 10,197 shares

MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

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

In a trading update in June, WH Smith, which operates high street stores as well as smaller outlets at train stations and airports, said like-for-like sales in the first 13 weeks of the second half were down 4% on the same period last year, with total sales up 1%.

"The economic environment remains uncertain and, whilst we continue to be cautious about consumer spending, we are confident in the outcome for the full year," it added

However, the firm has benefitted from a broader market rally, with sentiment boosted by cheery economic news and encouraging interim results from several companies that reported figures for the first six months of 2009.

WH Smith, whose financial year runs to 31 August, reports its full-year results on October 15.

Top Director Buys

Value: £492,584

Value: £20,900

Value: £14,725

Top Director Sells

Value: £416,042

Value: £400,049

Value: £396,300

Value: £327,060

Value: £298,296

Value: £296,370

Value: £259,044

Value: £239,945

Value: £219,795

Value: £169,050

MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.