Soon-to-be-Chairman at Thorntons shows his support

14th Sep 2012 15:38

Paul Wilkinson, a Senior Independent Director of chocolate maker Thorntons, has put his money where his mouth is after the firm said full-year profit before tax and exceptional items fell sharply in the face of continued tough trading conditions.Wilkinson, who was this week unveiled as the company's new chairman, purchased 665,503 shares at 29.748p each on Thursday, costing him a total of £197,987. He will take up his new role when current chairman, John von Spreckelsen, retires on February 1st next year. The company posted a decline in adjusted pre-tax profit to £0.9m for the 53 weeks ended June 30 2012 from £4.3m the same time a year earlier. Pre-tax losses widened to £2.21m during the period compared to £1.071m in 2011. Revenues slipped to £217.1m from £218.3m previously. As a result of the poor results, Thorntons opted to cancel its final dividend payment, having paid a 2.20p payment in 2011. Top Director BuysMan Group (EMG) Director name: Mr Jonathan SorrellAmount purchased: 304,878 @ 82.00p Value: £250,000Experian (EXPN) Director name: Mr George RoseAmount purchased: 20,000 @ 1,018.88p Value: £203,776Thorntons (THT) Director name: Mr Paul N WilkinsonAmount purchased: 665,503 @ 29.75p Value: £197,987Avesco Group (AVS) Director name: Mr Richard A Murray-ObodynskiAmount purchased: 30,000 @ 155.00p Value: £46,500Avesco Group (AVS) Director name: Mr Richard A Murray-ObodynskiAmount purchased: 20,000 @ 152.00p Value: £30,400Thorntons (THT) Director name: Mr Keith EdelmanAmount purchased: 66,547 @ 29.75p Value: £19,798Top Director SellsMoneysupermarket.com Group (MONY) Director name: Mr Simon Justin NixonAmount sold: 7,461,891 @ 134.42p Value: £10,030,274Wood Group (John) (WG.) Director name: Mr Alan G SempleAmount sold: 250,000 @ 841.00p Value: £2,102,500Alternative Networks (AN.) Director name: Mr Edward SpurrierAmount sold: 50,000 @ 248.00p Value: £124,000Alternative Networks (AN.) Director name: Mr Benjamin MarnhamAmount sold: 50,000 @ 248.00p Value: £124,000NR