- Burberry chair shows faith after profit warning
- Motorpoint CEO sells 100,000 shares
- Jet2 chairman snaps up stock
Dr Gerry Murphy, chairman of Burberry (BRBY), bought 20,000 shares in the luxury goods group at 725p for a total value of £145,000 on 16 July.
Murphy’s move followed another poor update from the heritage trench coats-to-cashmere scarves seller, which suspended its dividend, and said chief executive Jonathan Akeroyd would step down with immediate effect.
Year-to-date Burberry shares have fallen over 50%.
MOTORPOINT CEO SELLS 100,000 SHARES
Elsewhere Mark Carpenter, CEO of second-hand car retailer Motorpoint (MOTR), sold 100,000 shares in his charge at 140p for a total value of £140,000 on 10 July.
However, Carpenter still has plenty of skin in the game, retaining an interest in 8,581,693 ordinary shares in Motorpoint or 9.74% of the 88,104,287 shares in issue.
On 13 June, Motorpoint reported a disappointing set of full year results for the year ended 31 March 2024.
Full year revenue fell 24.6% to £1.08 billion influenced by market headwinds, stock mix and vehicle price deflation.
‘The past financial year was the most difficult in our history, with multiple negative headwinds in the macro environment such as rising borrowing costs and subdued customer demand, coupled with industry specific issues such as lower inventory and deflation’, said Carpenter.
JET2 CHAIRMAN BUYS £118,771 SHARES
Robin Terrell, chairman of airline and package holidays provider Jet2 (JET2:AIM), snapped up 8,557 shares at £13.88-a-pop on 12 July, for a total outlay of £118,771.
Following this transaction, Terrell beneficially holds a total of 13,761 ordinary shares representing 0.0064% of the issued share capital.
Terrell’s move could be seen as a vote of confidence in the airline and package holidays provider, which recently reported a 24% rise in revenue for the year to March 2024 and a 43% rise in full year pre-tax profit.
Total flown passengers grew 9% to 17.72 million, however the airline and package holidays provider remained mindful of the current macroeconomic and geopolitical environments.
