LONDON (ShareCast) - Findel’s chairman Keith Chapman spent almost £¾m on shares in the home shopping group following yesterday’s full year results, taking his holding past 6%.
He bought 250,000 shares at just over 296p a go, bringing his stake in the firm, whose portfolio includes the Kleeneze cleaning products catalogues, to around 5.15m shares.
Findel said Thursday it has made progress in the year but is “disappointed” with the final result in light of its previous expectations.
The group, which issued a profit warning in April saying year-end bad debts would increase at its Home Shopping arm, has seen its share price more than halve in the past year.
“The economic effects of the credit crunch spread into customer's pockets affecting their payment behaviour and resulting in an increase in bad debt,” the company said at Thursday's full year results.
All divisions have made positive sales progress in the first six weeks of the new year, with overall sales some 5% ahead, it said. Pre-tax profit for the year to March rose to £34m from £16.4m last year on turnover that increased 16% to £634.
Top Director Buys
Findel (FDL)
Director name: Mr Keith Chapman
Amount purchased: 250,000 @ 296.30p
Value: £740,750
Fiberweb (FWEB)
Director name: Mr Daniel Dayan
Amount purchased: 760,000 @ 45.60p
Value: £346,560
Findel (FDL)
Director name: Mr D Anthony Johnson
Amount purchased: 20,000 @ 292.30p
Value: £58,460
Fiberweb (FWEB)
Director name: Mr Daniel Abrams
Amount purchased: 108,831 @ 45.60p
Value: £49,627
Dimension Data Holdings (DDT)
Director name: Mr Rupert Barclay
Amount purchased: 60,000 @ 53.80p
Value: £32,280
JZ Equity (JZE)
Director name: Mr David J Macfarlane
Amount purchased: 25,000 @ 120.50p
Value: £30,125
MicroEmissive Displays (MED)
Director name: Mr Glenn Collinson
Amount purchased: 165,000 @ 14.50p
Value: £23,925
Quadnetics Group (QDG)
Director name: Mr Russ Singleton
Amount purchased: 10,000 @ 143.00p
Value: £14,300
Top Director Sells
Anglo Platinum (ANP)
Director name: Mr Duncan G Wanblad
Amount sold: 2,366 @ R1,253.47
Value: R2,965,715
Anglo Platinum (ANP)
Director name: Mr Duncan G Wanblad
Amount sold: 1,800 @ R1,253.47
Value: R2,256,250
Eurasian Natural Resources (ENRC)
Director name: Mr Mehmet Dalman
Amount sold: 135,000 @ 1,473.40p
Value: £1,989,090
Axon Group (AXO)
Director name: Mr Stephen Cardell
Amount sold: 200,000 @ 520.00p
Value: £1,040,000
