LONDON (ShareCast) - Alexon boss John Osborn has splashed out £187,000 on shares in the company after deciding the clothes and shoes retailer has fallen far enough in recent months.

The company has lost around 28% of its value since June, falling to its lowest in more than eight months as the firm battles tough trading conditions.

Osborn bought 100,000 shares in the owner of the Bay Trading, Dash and Ann Harvey clothing brands at 187p each, taking his stake to 800,000 shares.

Earlier this week the firm reported an increase in operating profit, but warned current trading remains challenging.

“The current trading climate remains challenging and the outcome for the year is largely dependent on the critical Christmas trading period,” said Osborn.

Operating profit for the 26 weeks ended 28 July came to £5.8m against £3.1m for the prior year, which included a £2.4m loss for the now discontinued Mandolin brand.

Overall sales were level with the prior year at £152.5m, with like-for-like sales down 2%. Like-for-like sales in the first seven weeks of the second half are down 5%, while gross margins continue to be ahead of last year.

Top Director Buys

Alexon Group (AXN)
Director name: Mr A H A Osborn
Amount purchased: 100,000 @ 187.00p
Value: £187,000

AT Communications (ATCG)
Director name: Mr Timothy Alexander Tupman
Amount purchased: 330,000 @ 45.00p
Value: £148,500

Informa (INF)
Director name: Mr Anthony Foye
Amount purchased: 15,000 @ 506.00p
Value: £75,900

Venture Production (VPC)
Director name: Mr Jonathan Murphy
Amount purchased: 10,100 @ 686.00p
Value: £69,286

Venture Production (VPC)
Director name: Mr Michael J Wagstaff
Amount purchased: 7,500 @ 698.25p
Value: £52,369

Expro International Group (EXR)
Director name: Mr Robert Frederick Bennett
Amount purchased: 5,000 @ 1,044.00p
Value: £52,200

Telit Communications (TCM)
Director name: Mr Oozi Cats
Amount purchased: 50,000 @ 72.00p
Value: £36,000

Land Securities Group (LAND)
Director name: Mr Mike Hussey
Amount purchased: 2,000 @ 1,633.00p
Value: £32,660

Venture Production (VPC)
Director name: Mr Rod Begbie
Amount purchased: 4,500 @ 698.47p
Value: £31,431

Warner Estate Holdings (WNER)
Director name: Mr Philip C T Warner
Amount purchased: 5,000 @ 478.50p
Value: £23,925

Top Director Sells

Xstrata (XTA)
Director name: Mr Robert Myles Randal MacDonnell
Amount sold: 90,000 @ 3,201.00p
Value: £2,880,900

Jardine Math.Sr (JAR)
Director name: Mr Henry Keswick
Amount sold: 100,000 @ $28.43
Value: $2,843,000

Unilever (ULVR)
Director name: Mr Patrick J P Cescau
Amount sold: 21,645 @ 1,585.00p
Value: £343,073

EG Solutions (EGS)
Director name: Ms Elizabeth Gooch
Amount sold: 285,000 @ 35.00p
Value: £99,750

Wilmington Group (WIL)
Director name: Mr R Basil Brookes
Amount sold: 30,000 @ 230.00p
Value: £69,000

• News Channel