LONDON (ShareCast) - The Chief Executive and the Finance Director at Associated British Foods each sold a portion of newly vested shares on Friday.

CEO George Weston sold 65,533 shares at 1,442.65p a time, earning him a total of £945,412, while Finance Director John Bason sold 64,373 at the same price for a total of £928,677.

The sales were made in part to meeting their respective tax liabilities on the shares acquired on vesting.

At the beginning of November the company, which is the owner of Primark and AB Sugar, boosted full year profit as it cautioned on a recent increase in commodity prices. Pre-tax profit rose to £761m for the year ended September 15th from £757m a year earlier. Revenue for the year increased to £12.25bn from £11.07bn previously.

Weston said at the time: "These are very good results for the group and include exceptional performances from AB Sugar and Primark. Global economic uncertainty remains but we have opportunities for further investment and the strength of the group balance sheet and a strong cash flow will enable us to pursue them with confidence."

The company said it expects to make further progress in the next financial year despite the challenges of subdued economic growth and continued pressure on consumer disposable incomes.


Top Director Buys

Worldwide Healthcare Trust (WWH)
Director name: Mr Doug McCutcheon
Amount purchased: 15,000 @ 828.87p
Value: £124,330

Trinity Mirror (TNI)
Director name: Mr Donal Smith
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F&C Asset Management (FCAM)
Director name: Mr Edward Bramson
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Reach4Entertainment Enterprises (R4E)
Director name: Mr David Stoller
Amount purchased: 377,358 @ 6.62p
Value: £24,981

Reach4Entertainment Enterprises (R4E)
Director name: Mr Shirley Stapleton
Amount purchased: 377,358 @ 6.62p
Value: £24,981

Renold (RNO)
Director name: Mr Mark Harper
Amount purchased: 123,456 @ 20.25p
Value: £25,000

PureCircle Ltd. (DI) (PURE)
Director name: Mr Paul E Selway-Swift
Amount purchased: 10,000 @ 240.00p
Value: £24,000

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Director name: Mr Jens P Montanana
Amount purchased: 50,000 @ 31.00p
Value: £15,500

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Director name: Mr Richard Ingham
Amount purchased: 226,415 @ 6.62p
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Top Director Sells

Associated British Foods (ABF)
Director name: Mr George G Weston
Amount sold: 65,533 @ 1,442.65p
Value: £945,412

Associated British Foods (ABF)
Director name: Mr John Bason
Amount sold: 64,373 @ 1,442.65p
Value: £928,677

United Drug (UDG)
Director name: Mr Barry McGrane
Amount sold: 45,000 @ 236.50p
Value: £106,425

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