Northern Foods kept rising Friday as bosses bought shares a day after the food producer reported underlying sales growth of 8.8% in the fourth quarter.
Stefan Barden, chief executive since February 2007, paid £94,000 for 189,517 shares in the Leeds-based firm. The purchase at 49.7p a share takes his stake to 1.74m shares.
Finance head, Andrew Booker, also got involved, snapping up 50,000 shares at the same price. Booker, who joined the group from Japan Tobacco International Inc/Gallaher in October last year, now owns 250,000 shares after the £25,000 acquisition.
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Northern Foods attributed final quarter growth to the expansion of its value offerings, including chilled pizza and discount sandwiches.
"We have adapted the business successfully to the new retail environment and we are benefiting from our operational and financial strengths," said Barden.
Top Director Buys
Value: £184,775
Value: £135,720
Value: £108,000
Value: £94,190
Value: £74,300
Value: £46,500
Value: £45,000
Value: £34,756
Value: £25,221
Value: £24,850
Top Director Sells
Value: £487,500
Value: £129,318
Value: £35,074
Value: £21,466
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