LONDON (ShareCast) - The new Chairman of Thorntons increased his stake in the High Street chocolatier by around a half on Monday, the same day that the company revealed a massive jump in profits in the first half.
Paul Wilkinson purchased ome 310,000 shares in the company (equal to a 0.45% stake) at a price of 47p a share, costing him a total of £145,700.
The sale boosted his interest in the company to 1.46%.
Wilkinson, who was serving as a non-executive director since mid-2006, was appointed as the retailer’s Chairman at the start of the month, replacing John von Spreckelsen who announced his intention to retire from the board back in September.
Shares in Thorntons surged by nearly 11% on Monday as investors cheered the group's continued recovery trail and its cautiously optimistic outlook for the year.
Revenues climbed 2.9% to £133.7m for the 28 weeks ended January 12th 2013 while profit before tax and exceptional items rose by 71% to £5.3m.
Chief Executive Jonathan Hart said: "We have strong trading plans in place and exciting new products across all channels. We are confident in the actions we are taking but remain cautious given the continuing challenge of the economic climate.
"Whilst trading since the period end has been in line with our expectations, we look forward to our important spring trading seasons of Mothers' Day and Easter which will be key to the outcome of the full year."
Top Director Buys
Thorntons (THT)
Director name: Mr Paul N Wilkinson
Amount purchased: 310,000 @ 47.00p
Value: £145,700
RSA Insurance Group (RSA)
Director name: Mr Richard Houghton
Amount purchased: 100,000 @ 117.20p
Value: £117,200
Catco Reinsurance Opportunities Fund Ltd (DI) (CAT)
Director name: Mr James Keyes
Amount purchased: 100,000 @ $1.40
Value: $140,320
Catco Reinsurance Opportunities Fund Ltd (DI) (CAT)
Director name: Mr James Keyes
Amount purchased: 100,000 @ $1.39
Value: $138,670
RSA Insurance Group (RSA)
Director name: Mr Edward Lea
Amount purchased: 68,000 @ 118.80p
Value: £80,784
RSA Insurance Group (RSA)
Director name: Mr Martin Scicluna
Amount purchased: 42,012 @ 118.30p
Value: £49,700
Anglogold Ashanti Ltd. (AGD)
Director name: Prof Wiseman Nkuhlu
Amount purchased: 2,200 @ 1,671.33p
Value: £36,769
RSA Insurance Group (RSA)
Director name: Mr Alastair Barbour
Amount purchased: 20,891 @ 117.90p
Value: £24,630
STV Group (STVG)
Director name: Mr Genevieve Shore
Amount purchased: 10,499 @ 140.30p
Value: £14,730
Top Director Sells
RGI International Ltd. (RGI)
Director name: Mr Alan Hibbert
Amount sold: 600,000 @ $2.10
Value: $1,260,000
RGI International Ltd. (RGI)
Director name: Mr Yoram Evan
Amount sold: 600,000 @ $2.10
Value: $1,260,000
Spectris (SXS)
Director name: Mr Roger Stephens
Amount sold: 46,126 @ 2,449.10p
Value: £1,129,672
Spectris (SXS)
Director name: Mr James C Webster
Amount sold: 22,430 @ 2,380.31p
Value: £533,904
Pan African Resources (PAF)
Director name: Mr Jan Petrus Nelson
Amount sold: 135,600 @ 19.52p
Value: £26,469
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