Diageo (DGE) chairman Javier Ferrán topped up his shareholding during a recent trough in the spirits company’s share price. Towards the end of September, the drinks group warned that foreign exchange rate volatility in emerging markets would wipe £175m off net sales and £45m off operating profit this financial year, sending the shares down by way of reaction. It was at this point that Mr Ferrán spent more than £757,000 on enlarging his shareholding.
But the subsequent share price recovery is justified for two reasons. First, the forecast trim isn’t material considering the scale of Diageo’s operations: last financial year the company reported £12.2bn in net sales, with £3.7bn of operating profit. Second, currency movements aren't indicative of operational issues. In fact, chief executive Ivan Menezes still expects operating margins to expand by 175 basis points come June 2019, with the group also in the process of repurchasing £2bn-worth of shares.
Buys | |||||||
Company | Director | Date | No of shares | Price (p) | Value (£) | Holding (shares) | Holding (%) |
Altitude | Graeme Couturier | 11 Oct 18 | 15,666 | 71.49 | 11,200 | 15,666 | 0.029 |
Anglo Pacific | Patrick Meier (ch) | 11 Oct 18 | 14,250 | 138 | 19,665 | 231,927 | 0.128 |
Arc Minerals* | Jonathan de Thierry | 15 Oct 18 | 66,667 | 4.5 | 3,000 | 13,559,555 | 2.149 |
Arc Minerals* | Donald Bailey | 15 Oct 18 | 222,223 | 4.5 | 10,000 | 7,263,890 | 1.151 |
Arc Minerals* | Brian McMaster | 15 Oct 18 | 222,223 | 4.5 | 10,000 | 2,222,223 | 0.352 |
Arc Minerals* | Nicholas Von Schirnding (ch) | 15 Oct 18 | 2,222,223 | 4.5 | 100,000 | 13,326,198 | 2.112 |
Audioboom | Michael Tobin (ch) | 11 Oct 18 | 188,508 | 1.38 | 2,601 | 2,265,019 | 0.193 |
Bigblu Broadband | Michael Tobin (ch) | 11 Oct 18 | 31,578 | 95 | 29,999 | 206,099 | 0.363 |
Bodycote | Anne Quinn (ch) | 11 Oct 18 | 10,000 | 803.9 | 80,390 | 11,000 | 0.006 |
Boot (Henry) | Darren Littlewood (fd) | 11 Oct 18 | 5,000 | 270 | 13,500 | 77,500 | 0.058 |
Breedon | Patrick Ward (ceo) | 11 Oct 18 | 75,000 | 64.7 | 48,525 | 397,847 | 0.024 |
City Pub* | Clive Watson (ch) | 15 Oct 18 | 68,182 | 220 | 150,000 | 2,638,714 | 4.304 |
ConvaTec | Jesper Ovesen | 15 Oct 18 | 5,000 | 141.3 | 7,065 | 133,889 | 0.007 |
ConvaTec | Jesper Ovesen | 15 Oct 18 | 40,000 | 141.8 | 56,720 | 128,889 | 0.007 |
ConvaTec | Frank Schulkes (cfo) | 15 Oct 18 | 65,000 | 150.42 | 97,773 | 165,000 | 0.008 |
Diageo | Javier Ferrán (ch) | 12 Oct 18 | 30,000 | 2524.95 | 757,485 | 179,644 | 0.007 |
Diversified Gas & Oil | Bradley Gray (fd) | 11 Oct 18 | 12,500 | 107.5 | 13,438 | 2,222,981 | 0.410 |
Frontier Developments♥ | James Mitchell | 11 Oct 18 | 7,357 | 1058.6 | 77,881 | 87,923 | 0.228 |
Grafton | Michael Roney (ch) | 11 Oct 18 | 10,903 | 690 | 75,231 | 22,432 | 0.009 |
Harworth | Owen Michaelson (ceo) | 15 Oct 18 | 41,322 | 121 | 50,000 | 316,412 | 0.098 |
Harworth | Owen Michaelson (ceo) | 16 Oct 18 | 40,530 | 122 | 49,447 | 356,942 | 0.111 |
hVIVO | James Winschel | 12 Oct 18 | 6,420 | 62.3 | 4,000 | 79,558 | 0.099 |
Invesco Income Growth Trust | Tim Woodhead | 11 Oct 18 | 6,000 | 259.67 | 15,580 | 6,000 | 0.010 |
ITE | Mark Shashoua (ceo) | 15 Oct 18 | 50,000 | 62.3 | 31,150 | 1,146,521 | 0.156 |
ITE | Mark Shashoua (ceo) | 15 Oct 18 | 30,000 | 63 | 18,900 | 1,096,521 | 0.150 |
JKX Oil & Gas | Christian Bukovics | 12 Oct 18 | 30,000 | 41.4 | 12,420 | 30,000 | 0.017 |
JPMorgan Asian Investment Trust | June Aitken | 15 Oct 18 | 10,000 | 311 | 31,100 | 10,000 | 0.011 |
Midwich | Stephen Lamb (fd) | 11 Oct 18 | 1,000 | 576.25 | 5,763 | 6,000 | 0.008 |
Midwich | Stephen Lamb (fd) | 11 Oct 18 | 1,000 | 584.99 | 5,850 | 7,000 | 0.009 |
Midwich | Stephen Lamb (fd) | 11 Oct 18 | 500 | 584.99 | 2,925 | 7,500 | 0.009 |
Moneysupermarket.com | Bruce Carnegie-Brown (ch) | 11 Oct 18 | 40,000 | 263.2955 | 105,318 | 90,000 | 0.017 |
Murray Income Trust | Stephanie Eastment | 12 Oct 18 | 700 | 716 | 5,012 | 1,925 | 0.003 |
Nanoco | Brian Tenner | 16 Oct 18 | 158,543 | 32 | 50,734 | 158,543 | 0.055 |
Next | Michael Roney (ch) | 11 Oct 18 | 4,651 | 5348 | 248,735 | 33,778 | 0.024 |
Next | Michael Roney (ch) | 12 Oct 18 | 920 | 5430 | 49,956 | 34,698 | 0.025 |
Oakley Capital Investments | Peter Dubens | 12 Oct 18 | 58,920 | 185 | 109,002 | 9,218,972 | 4.501 |
Oakley Capital Investments | Peter Dubens | 11 Oct 18 | 75,000 | 187 | 140,250 | 9,160,052 | 4.473 |
Pacific Assets Trust | James Williams (ch) | 12 Oct 18 | 10,000 | 248 | 24,800 | 50,000 | 0.042 |
Paragon Entertainment | Mark Pyrah | 12 Oct 18 | 261,193 | 1.68 | 4,388 | 19,366,341 | 10.319 |
Personal Assets Trust | Robin Angus | 16 Oct 18 | 4 | 39350 | 1,574 | 4,752 | 0.208 |
Personal Assets Trust♥ | Robin Angus | 16 Oct 18 | 5 | 39350 | 1,968 | 4,762 | 0.208 |
Personal Assets Trust | Robin Angus | 16 Oct 18 | 5 | 39375.4 | 1,969 | 4,748 | 0.208 |
Personal Assets Trust♥ | Robin Angus | 16 Oct 18 | 5 | 39375.4 | 1,969 | 4,757 | 0.208 |
SDL | Glenn Collinson | 12 Oct 18 | 6,500 | 472.11 | 30,687 | 43,000 | 0.047 |
Sequoia Economic Infrastructure Inc Fund | Robert Jennings (ch) | 12 Oct 18 | 22,800 | 106 | 24,168 | 240,000 | 0.023 |
Sequoia Economic Infrastructure Inc Fund | Sandra Platts | 12 Oct 18 | 2,934 | 106 | 3,110 | 19,073 | 0.002 |
Synairgen* | Phillip Monk | 15 Oct 18 | 46,875 | 16 | 7,500 | 230,314 | 0.211 |
Synairgen* | John Ward (fd) | 15 Oct 18 | 62,500 | 16 | 10,000 | 339,006 | 0.310 |
Synairgen* | Richard Marsden (ceo) | 15 Oct 18 | 156,250 | 16 | 25,000 | 310,682 | 0.284 |
TT Electronics | Michael Baunton | 11 Oct 18 | 2,256 | 220 | 4,963 | 83,810 | 0.051 |
TT Electronics | Michael Baunton | 11 Oct 18 | 4,517 | 220 | 9,937 | 88,327 | 0.054 |
TT Electronics | Michael Baunton | 11 Oct 18 | 9,029 | 220 | 19,864 | 97,356 | 0.060 |
TT Electronics | Michael Baunton | 11 Oct 18 | 1,122 | 220 | 2,468 | 98,478 | 0.060 |
TT Electronics | Michael Baunton | 11 Oct 18 | 1,120 | 221 | 2,475 | 99,598 | 0.061 |
Volution | Ronnie George (ceo) | 11 Oct 18 | 10,000 | 170 | 17,000 | 5,632,833 | 2.832 |
YouGov | Ashley Martin | 12 Oct 18 | 5,617 | 445 | 24,996 | 5,617 | 0.005 |
Sells | |||||||
Company | Director | Date | No of shares | Price (p) | Value (£) | Holding (shares) | Holding (%) |
Surgical Innovations | Nigel Rogers (ch) | 16 Oct 18 | 416,830 | 2.95 | 12,296 | 6,610,000 | 0.845 |
* placing/tender/open offer ♥ spouse/connected party |