Tesco Chairman keeps the faith after recent poor update

17th Jan 2014 16:54

Tesco Non-Executive Chairman Sir Richard Broadbent added 10,000 shares to his stake, the supermarket chain announced Friday. Broadbent, who joined the board in July 2011, bought the shares at 331.22p a piece for a total spend of £33,122. The purchase was made less than a week after the company posted a 2.4% decline in its like-for-like sales during the festive period for in what has proved to be a challenging time for all the large UK grocers. The group had been expected to report falling LFL sales of between 1% and 2%.Group sales in the six weeks to January 4th declined by 1.2% including petrol or 0.6% excluding petrol.Looking forward, the company said that it still expected to report full-year (FY) profits within the range of current market expectations, which it sees as being in between £3.16bn to £3.42bn.Top Director BuysAquarius Platinum Ltd. (AQP) Director name: Mr Jean NelAmount purchased: 177,000 @ 37.91p Value: £67,101Volex (VLX) Director name: Mr Daren MorrisAmount purchased: 30,000 @ 112.00p Value: £33,600Tesco (TSCO) Director name: Sir Richard BroadbentAmount purchased: 10,000 @ 331.22p Value: £33,122Telford Homes (TEF) Director name: Mr David Campbell Amount purchased: 6,656 @ 373.00p Value: £24,827Futura Medical (FUM) Director name: Mr John M ClarkeAmount purchased: 33,132 @ 58.15p Value: £19,266Top Director SellsIthaca Energy Inc. (DI) (IAE) Director name: Mr John P SummersAmount sold: 215,000 @ 145.00p Value: £311,750Big Yellow Group (BYG) Director name: Mr Nicholas VetchAmount sold: 50,000 @ 500.00p Value: £250,000Big Yellow Group (BYG) Director name: Mr James GibsonAmount sold: 45,910 @ 500.00p Value: £229,550Ithaca Energy Inc. (DI) (IAE) Director name: Mr Bradley HurtubiseAmount sold: 115,000 @ 145.00p Value: £166,750Regenersis (RGS) Director name: Mr Jog Dhody Amount sold: 50,296 @ 300.00p Value: £150,888Ithaca Energy Inc. (DI) (IAE) Director name: Mr Jay M ZammitAmount sold: 100,001 @ 145.00p Value: £145,001Ithaca Energy Inc. (DI) (IAE) Director name: Mr Franklin (Frank) M WormsbeckerAmount sold: 100,000 @ 145.00p Value: £145,000Barr (A.G.) (BAG) Director name: Mr Alex B C ShortAmount sold: 5,400 @ 583.00p Value: £31,482Bango (BGO) Director name: Mr Anil MalhotraAmount sold: 5,855 @ 188.00p Value: £11,007NR