Thomas Cook boss adds to stake

7th Dec 2009 16:27

Thomas Cook's chief executive, Manny Fontenla-Novoa, has splashed out nearly £100,000 on shares in the travel firm.The Spanish-born businessman took 44,819 shares at 221.5p a time and now has 687,172.His purchase of shares comes soon after Thomas Cook beat expectations with its results for the year to September 30, with an adjusted pre-tax profit of £308.2m, down slightly from £309.3m the previous year, as revenues climbed to £9.27bn from £8.75bn.Thomas Cook managed to weather the downturn by lifting ticket prices and reducing capacity. Thomas Cook also benefited from holidaymakers steering clear of the strong euro by heading to more exotic locations such as Turkey and Egypt.Shares in the company have been steady since Fontenla-Novoa's last purchase, when he took 90,907 shares at 218.5p a time, but he has seen good gains on the 311,793 shares he took at 192.5p in January in the depths of the downturn.Fontenla-Novoa, who moved to London from Spain at the age of 11, has been chief executive of the company since July 2007.Top Director BuysThomas Cook Group (TCG) Director name: Mr Manny Fontela-NovoaAmount purchased: 44,819 @ 221.56p Value: £99,301RCG Holdings (RCG) Director name: Dr Raymond ChuAmount purchased: 60,000 @ 88.14p Value: £52,884UK Select Trust Ltd. (UKT) Director name: Mr David WarrAmount purchased: 30,000 @ 129.05p Value: £38,715BlackRock Smaller Companies Trust (BRSC) Director name: Mr Robert Sinclair RobertsonAmount purchased: 10,000 @ 285.95p Value: £28,595Top Director SellsMay Gurney Integrated Services (MAYG) Director name: Mr Michael DunnAmount sold: 950,000 @ 240.00p Value: £2,280,000May Gurney Integrated Services (MAYG) Director name: Mr Ian FindlaterAmount sold: 700,000 @ 240.00p Value: £1,680,000Education Development International (EDD) Director name: Mr Nigel M SnookAmount sold: 1,000,000 @ 135.00p Value: £1,350,000Education Development International (EDD) Director name: Mr Barrie ClarkAmount sold: 350,000 @ 135.00p Value: £472,500May Gurney Integrated Services (MAYG) Director name: Mr Timothy RossAmount sold: 163,375 @ 240.00p Value: £392,100Jardine Matheson (Singapore) (JAR) Director name: Mr Simon L KeswickAmount sold: 6,000 @ $30.00 Value: $180,000Education Development International (EDD) Director name: Dr Dr Jenifer Mary MoodyAmount sold: 67,312 @ 135.00p Value: £90,871