Hughes quadruples Restaurant Group stake

17th Mar 2011 16:49

Restaurant Group non-executive Tony Hughes has invested more than £900,000 in the company. Hughes has more than quadrupled his stake in the Garfunkels and Chiquito restaurants operator to 400,000 shares He bought 308,524 shares at 294.74p a share. By buying now Hughes will receive the 7.46p a share final dividend on the newly acquired shares in June - just over £23,000 of additional dividend. At the beginning of January, Hughes bought 81,746 shares at 274.2p each - a cost of £223,000. He previously owned 10,000 shares and he has invested more than £1.13m in the company this year. Hughes has been a non-executive director of Restaurant Group since January 2008. He joined just after leaving Mitchells & Butler, where he was head of the restaurants division between 1995 and 2007. He had previously worked for Whitbread, Devenish and B&Q. Earlier this month, concessions director Trish Corzine raised £718,000 from a share sale at 295.74p a share. These shares came from the exercise of options and other incentive shares. Tourists flocking to its Garfunkel's outlets in Central London helped Restaurant Group come though the weather, ash clouds and recession last year in decent shape. Profits in 2010 rose by 17% to £56.5m, from £48.3m, on revenues up 7% at £466m. Like-for-like sales fell by 1%.Top Director Buys Restaurant Group (RTN) Director name: Mr Anthony (Tony) HughesAmount purchased: 308,524 @ 294.74p Value: £909,344European Goldfields Ltd. (EGU) Director name: Mr Timothy Morgan-WynneAmount purchased: 25,000 @ 726.70p Value: £181,675European Goldfields Ltd. (EGU) Director name: Mr Martyn KonigAmount purchased: 20,000 @ 727.32p Value: £145,464Innovise (INNO) Director name: Mr Joseph Robert McKennaAmount purchased: 416,667 @ 40.00p Value: £166,667F&C Asset Management (FCAM) Director name: Mr Edward BramsonAmount purchased: 145,000 @ 78.25p Value: £113,462United Business Media Ltd. (UBM) Director name: Mr David LevinAmount purchased: 18,000 @ 580.87p Value: £104,557BATM Advanced Communications Ltd. (BVC) Director name: Dr Zvi MaromAmount purchased: 450,000 @ 21.00p Value: £94,500Weir Group (WEIR) Director name: Mr Keith CochraneAmount purchased: 3,685 @ 1,586.27p Value: £58,454Supergroup (SGP) Director name: Mr Chas HowesAmount purchased: 3,500 @ 1,435.00p Value: £50,225Weir Group (WEIR) Director name: Mr Lord Smith of KelvinAmount purchased: 3,100 @ 1,559.67p Value: £48,350Top Director Sells Intertek Group (ITRK) Director name: Mr Wolfhart HauserAmount sold: 79,344 @ 1,905.60p Value: £1,511,979HSBC Holdings (HSBA) Director name: Mr Douglas J FlintAmount sold: 43,939 @ 639.06p Value: £280,797HSBC Holdings (HSBA) Director name: Mr Vincent Hoi Chuen ChengAmount sold: 3,152 @ 639.06p Value: £20,143Forth Ports (FPT) Director name: Mr James TuckeyAmount sold: 920 @ 1,382.00p Value: £12,714