Associated British Foods directors sell newly vested shares

26th Nov 2012 16:08

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 BuysWorldwide Healthcare Trust (WWH) Director name: Mr Doug McCutcheonAmount purchased: 15,000 @ 828.87p Value: £124,330Trinity Mirror (TNI) Director name: Mr Donal SmithAmount purchased: 61,900 @ 81.17p Value: £50,244F&C Asset Management (FCAM) Director name: Mr Edward BramsonAmount purchased: 50,000 @ 99.15p Value: £49,575Reach4Entertainment Enterprises (R4E) Director name: Mr David Stoller Amount purchased: 377,358 @ 6.62p Value: £24,981Reach4Entertainment Enterprises (R4E) Director name: Mr Shirley StapletonAmount purchased: 377,358 @ 6.62p Value: £24,981Renold (RNO) Director name: Mr Mark HarperAmount purchased: 123,456 @ 20.25p Value: £25,000PureCircle Ltd. (DI) (PURE) Director name: Mr Paul E Selway-SwiftAmount purchased: 10,000 @ 240.00p Value: £24,000Corero Network Security (CNS) Director name: Mr Jens P MontananaAmount purchased: 50,000 @ 31.00p Value: £15,500Reach4Entertainment Enterprises (R4E) Director name: Mr Richard InghamAmount purchased: 226,415 @ 6.62p Value: £14,989Top Director SellsAssociated British Foods (ABF) Director name: Mr George G WestonAmount sold: 65,533 @ 1,442.65p Value: £945,412Associated British Foods (ABF) Director name: Mr John BasonAmount sold: 64,373 @ 1,442.65p Value: £928,677United Drug (UDG) Director name: Mr Barry McGraneAmount sold: 45,000 @ 236.50p Value: £106,425