Sainsbury CFO keeps the faith as shares slide

13th Jun 2012 15:41

Sainsbury's Chief Financial Officer John Rogers bought £50,000-worth of shares in the firm on the same day the company unveiled a disappointing period of trading. Like-for-like (LFL) sales in the 12 weeks to June 9th were up 1.4% on the corresponding period of last year, below market expectations of growth of between 1.6% and 2.0%. Total sales for what is the first quarter of the supermarket chain's fiscal year were up 3.6% year-on-year, or 3.8% excluding fuel. Growth may have disappointed some analysts but it knocked Tesco's figures into a cocked hat; on Monday, Tesco had announced a 1.5% LFL decline in sales (excluding VAT and petrol). Rogers bought 17,850 shares at 280.14p each.Enquest, the FTSE 250 North Sea oil and gas firm, has announced that Double A, a discretionary trust in which the extended family of Chief Executive Amjad Bseisu have a beneficial interest, has purchased 564,893 shares at 116.50p a pop. The £658,100 purchase takes Double A's stake in the company to 8.81%, equal to around 70.7m shares. At the end of last month EnQuest signed an agreement with the Kuwait Foreign Petroleum Exploration Company (KUFPEC) under which the EnQuest will farm out a 35% in its Alma and Galia oil field developments to KUFPEC. In return, KUFPEC will invest around $500m (£300m) in cash, which includes $182m in future contributions for past costs, as well as KUFPEC's direct share of the development costs. Bseisu said at the time: "With start up planned for late next year, the project team is well advanced in the execution phase and our first Alma well has reached total depth with good results." Top Director BuysEnQuest (ENQ) Director name: Mr Amjad BseisuAmount purchased: 564,893 @ 116.50p Value: £658,100North Atlantic Smaller Companies Inv Trust (NAS) Director name: Mr Christopher H B MillsAmount purchased: 9,853 @ 925.00p Value: £91,140Bank of Georgia Holdings (BGEO) Director name: Mr David MorrisonAmount purchased: 6,000 @ 1,105.00p Value: £66,300Sainsbury (J) (SBRY) Director name: Mr John RogersAmount purchased: 17,850 @ 280.14p Value: £50,005CLS Holdings (CLI) Director name: Mr Sten A MortstedtAmount purchased: 2,993 @ 595.00p Value: £17,808Lloyds Banking Group (LLOY) Director name: Lord Norman BlackwellAmount purchased: 50,000 @ 28.59p Value: £14,295Top Director SellsGreat Portland Estates (GPOR) Director name: Mr Toby CourtauldAmount sold: 96,597 @ 365.94p Value: £353,487Great Portland Estates (GPOR) Director name: Mr Toby CourtauldAmount sold: 61,908 @ 365.94p Value: £226,546Great Portland Estates (GPOR) Director name: Mr Neil ThompsonAmount sold: 61,908 @ 365.94p Value: £226,546Beazley (BEZ) Director name: Mr Adrian Cox Amount sold: 115,634 @ 135.90p Value: £157,147Mid Wynd International Inv Trust (MWY) Director name: Mr P M S BarronAmount sold: 5,000 @ 231.00p Value: £11,550