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Director dealings: Tesco CEO, CFO buy shares
(Sharecast News) - Two of the director deals disclosed on Friday involved supermarket giant Tesco. Tesco chief executive Ken Murphy purchased 11,961 shares at 418p each, giving a total purchase price of just under £50,000.
Chief financial officer Imran Nawaz made the exact same purchase. Both purchases took place on Friday.
News of the purchases came after Tesco said on Thursday that it expects full-year earnings to be at the top end of forecasts despite a slowdown in underlying sales growth over the key Christmas selling season.
Group like-for-like sales were up 2.4% over the six weeks to 3 January, easing from the 3.1% growth seen over the third quarter to 22 November and the 4.6% jump registered in the second quarter.
Underlying sales growth across the UK slowed to 3.2% over Christmas from 3.9% over the third quarter, though the company still managed to increased its market share over the festive week to 29.4% - its highest in over a decade.
The grocer said fresh food had a "standout performance" in the UK during the third quarter, with LFL sales up 6.6% due to its investments in value and quality, while home and clothing sales rose 2.1% and online sales rose 11.2%.
Elsewhere, Michael Ziff, non-executive director at Town Centre Securities, sold 25,000 shares at 124p each, giving a total sale price of £31,000. The sale took place on Thursday.
Top Director Buys
Tesco (TSCO) Director name: Nawaz,Imran Amount purchased: 11,961 @ 418.00p Value: £49,996.98
Tesco (TSCO) Director name: Murphy,Ken Amount purchased: 11,961 @ 418.00p Value: £49,996.98
Trifast (TRI) Director name: Mills,Nicholas Amount purchased: 20,000 @ 70.00p Value: £14,000.00
Top Director Sells
Town Centre Securities (TOWN) Director name: Ziff,Michael Amount sold: 25,000 @ 124.00p Value: £31,000.00
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