Director dealings: N Brown's Spindler buys after results weigh on shares

22nd Apr 2016 16:27

(ShareCast News) - Showing her confidence in underlying trading, N Brown chief executive Angela Spindler took advantage of the market's conservative view of the specialist-fit clothing retailer's results statement earlier in the week. Spindler trousered almost £50,000-worth of shares in the FTSE 250 group at a price of 270.9p, the day after the final results has sent them ripping down from just under 320p. While the 2015 numbers showed Spindler had made a very encouraging start in her turnaround of a dowdy clothing seller to a digital-focused operator, breathing life into some of its more brands and looking to make a move over the Atlantic.Benefits of the turnaround looked to be coming through in the second half of the year when there was 11% profit growth, which enabled the group to generate underlying pre-tax profit of £84.5m, a decline of just 2.0% on the previous year and in line with consensus City forecasts on sales that were up 3.5%.The reason the market turned on the shares was a warning of currency headwinds in 2016 and a slowdown endured since the year end due to a challenging industry backdrop and the company's new marketing approach of shifting from large TV ad campaigns to a more steadily increasing investment in online and mobile."Looking forward, whilst we face challenging market conditions for the fashion sector overall, and trading since the year end has been subdued, we remain confident in our ability to make further progress this year," Spindler said, adding that the company was midway through its turnaround.Top Director BuysMporium Group (MPM)Director name: Moat,Barry ChristopherAmount purchased: 623,125 @ 8.00pValue: £49,850.00Brown (n.) Group (BWNG)Director name: Spindler,AngelaAmount purchased: 18,000 @ 270.90pValue: £48,762.00Micro Focus International (MCRO)Director name: Loosemore,KevinAmount purchased: 1,927 @ 1,557.38pValue: £30,010.71Dunelm Group (DNLM)Director name: Down,KeithAmount purchased: 3,246 @ 915.00pValue: £29,700.90Mporium Group (MPM)Director name: Casey,Aidan Amount purchased: 311,562 @ 8.00pValue: £24,924.96Tyratech Inc. (di / Regs) (TYR)Director name: Hills,James (Jim)Amount purchased: 250,000 @ 5.00pValue: £12,500.00Mporium Group (MPM)Director name: Gordon,RichardAmount purchased: 99,702 @ 8.00pValue: £7,976.16Tyratech Inc. (di / Regs) (TYR)Director name: Hills,James (Jim)Amount purchased: 100,000 @ 4.50pValue: £4,500.00Magnolia Petroleum (MAGP)Director name: Otis Snead,Steven Amount purchased: 1,500,000 @ 0.20pValue: £3,000.00Magnolia Petroleum (MAGP)Director name: Sanford Harwood,Ronald Amount purchased: 1,500,000 @ 0.20pValue: £3,000.00Magnolia Petroleum (MAGP)Director name: Fern Whittington,Rita Amount purchased: 1,500,000 @ 0.20pValue: £3,000.00Tyratech Inc. (di / Regs) (TYR)Director name: Hills,James (Jim)Amount purchased: 50,000 @ 4.25pValue: £2,125.00Top Director SellsLegal & General Group (LGEN)Director name: Wilson,NigelAmount purchased: 77,583 @ 239.10pValue: £185,500.96Legal & General Group (LGEN)Director name: Gregory,MarkAmount purchased: 49,326 @ 239.10pValue: £117,938.47Micro Focus International (MCRO)Director name: Loosemore,KevinAmount purchased: 979 @ 1,558.26pValue: £15,255.37