Thomas Cook Chairman makes purchase following results disappointment

29th Nov 2012 16:48

The non-executive Chairman of Thomas Cook, the FTSE 250 travel company, has made a show of faith in the group as full-year losses widened on higher fuel costs and write-downs. Frank Meysman, who became Chairman one year ago, bought 100,000 shares at 24.57p a time for a total of £24,570. The company reported on Wednesday that its pre-tax loss widened to a thumping £485.3m in the year ended September 30th compared to a loss of £398.2m in 2011. Revenue fell to £9.49bn from £9.8bn previously. The heavily indebted travel firm, which has battled against a downturn in global travel and high debt levels and endured three profit warnings last year, said it is recovering lost ground from last year's difficulties. Meysman's purchase follows a much bigger one by Group Chief Executive Harriet Green, who bought her first round of shares in the company on Wednesday, purchasing 500,000 shares at 23p a time. "These results reflect the major issues that Thomas Cook faced last year, but they mask the material improvement that we made in the fourth quarter," Green said on Wednesday. Top Director BuysF&C Asset Management (FCAM) Director name: Mr Edward BramsonAmount purchased: 64,968 @ 99.00p Value: £64,318Global Energy Development (GED) Director name: Mr Mikel D FaulknerAmount purchased: 50,000 @ 105.00p Value: £52,500Rexam (REX) Director name: Ms Johanna WaterousAmount purchased: 10,000 @ 433.78p Value: £43,378VinaLand Ltd (VNL) Director name: Mr Charles N BrookeAmount purchased: 93,000 @ $0.43 Value: $39,990Henderson Far East Income Ltd. (HFEL) Director name: Mr John Bayley RussellAmount purchased: 10,000 @ 305.05p Value: £30,505Mitchells & Butlers (MAB) Director name: Mr Edward Irwin Amount purchased: 10,000 @ 304.80p Value: £30,480Global Energy Development (GED) Director name: Mr Stephen C VossAmount purchased: 25,000 @ 105.00p Value: £26,250Thomas Cook Group (TCG) Director name: Mr Frank MeysmanAmount purchased: 100,000 @ 24.57p Value: £24,570Thomas Cook Group (TCG) Director name: Ms Martine VerluytenAmount purchased: 100,000 @ 23.00p Value: £23,000Avanti Communications Group (AVN) Director name: Mr Paul S WalshAmount purchased: 10,000 @ 217.00p Value: £21,700Top Director SellsNext Fifteen Communications (NFC) Director name: Mr David DewhurstAmount sold: 80,000 @ 100.00p Value: £80,000St James's Place (STJ) Director name: Mr Andrew CroftAmount sold: 9,167 @ 396.43p Value: £36,341Mitchells & Butlers (MAB) Director name: Mr Tim JonesAmount sold: 3,400 @ 302.72p Value: £10,292