News

Northern Foods CEO Stefan Barden has gobbled up 220,000 shares in the food group at 102.099p each, taking his stake to 769,000.

The boss has been a big buyer of the shares over the past six months, having snapped up more than 337,000 before today's purchase at between 130p and 103p.

Barden replaced Pat O'Driscoll as chief executive in February having previously been the director responsible for the chilled and bakery divisions.

In July, the firm said first quarter trading was in line with expectations, with underlying revenue growth up 2.6% on this time last year, though trading conditions remain challenging.

Revenue growth of 5.2% in its chilled and frozen divisions more than compensated for a flaky performance from the bakery division, where revenue declined 2.6%.

Wheat prices have been soaring recently and managing higher commodity prices is a priority, Northern said. Even so, the overall operating margin for the first quarter was up on the corresponding period of last year and interest charges are lower, owing to reduced debt.
Top Director Buys

Northern Foods (NFDS)
Director name: Mr Stefan Barden
Amount purchased: 220,000 @ 102.10p
Value: £224,620

Wolseley (WOS)
Director name: Mr Claude 'Chip' Hornsby
Amount purchased: 15,429 @ 804.50p
Value: £124,126

Highway Insurance (HWY)
Director name: Mr Richard Gamble
Amount purchased: 50,000 @ 70.50p
Value: £35,250

Trakm8 (TRAK)
Director name: Mr Cary Knapton
Amount purchased: 110,000 @ 30.00p
Value: £33,000

BATM Advanced (BVC)
Director name: Mr Peter Sheldon
Amount purchased: 100,000 @ 32.38p
Value: £32,380

Highland Gold Mining (HGM)
Director name: Mr James Cross
Amount purchased: 30,000 @ 86.00p
Value: £25,800

Highland Gold Mining (HGM)
Director name: Mr Christopher Palmer-Tomkinson
Amount purchased: 30,000 @ 86.00p
Value: £25,800

Foreign and Colonial Global Smaller Companies (FCS)
Director name: Mr Mark White
Amount purchased: 5,000 @ 428.63p
Value: £21,432

BATM Advanced (BVC)
Director name: Mr Peter Sheldon
Amount purchased: 50,000 @ 32.38p
Value: £16,190

Indago Petroleum (IPL)
Director name: Mr Tim John Crommelin Eggar
Amount purchased: 25,000 @ 63.00p
Value: £15,750

Top Director Sells

Nasstar (NASA)
Director name: Lord Lord Daresbury
Amount sold: 1,161,667 @ 31.00p
Value: £360,117

Pearson (PSON)
Director name: Mr Robin Freestone
Amount sold: 2,050 @ 750.09p
Value: £15,377