Cadbury non-exec takes a bite
A round-up of the biggest director deals today so far.
Colin Day, a non-executive director at Cadbury, showed his faith in his new employer by spending more than £50,000 on shares in the chocolate manufacturer.
Day, who was appointed to the board in December, bought 10,000 at 508p a time, having previously just had 222.
The purchase comes the month after Cadbury boosted reported full-year profits for 2008 by 30%, although it predicted revenue growth for 2009 will be towards the bottom end of its 4-6% target.
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
Underlying profit before tax for the 12 months ended 31 December 2008 jumped 30% on a reported basis to £559m, as expected, and by 22% at constant currency, as reported margins rose 180 basis points to 11.9%.
Pre-tax profit rose to £400m from £254m on reported revenue up 15% to £5.38bn.
The firm's shares are down about 10% on the year, a relatively good performance in the current climate.
Day, who is chief financial officer of the household goods giant Reckitt Benckiser and a non-executive at Imperial Tobacco and easyJet, will take up his duties as chairman of Cadbury's audit committee next month.
Top Director Buys
Value: £109,500
Value: £67,850
Value: £56,160
Value: £53,680
Value: £50,800
Value: £48,425
Value: £46,607
Value: £42,405
Value: £37,386
Value: £29,835
Top Director Sells
Value: £98,900
Value: £98,750
Value: £97,000
Value: £44,275
Value: £39,741
Sign up to Money Morning
Our team, led by award winning editors, is dedicated to delivering you the top news, analysis, and guides to help you manage your money, grow your investments and build wealth.
-
Energy bills to rise by 1.2% in January 2025
Energy bills are set to rise 1.2% in the New Year when the latest energy price cap comes into play, Ofgem has confirmed
By Dan McEvoy Published
-
Should you invest in Trainline?
Ticket seller Trainline offers a useful service – and good prospects for investors
By Dr Matthew Partridge Published