Directors dealings: M&S chairman adds to holdings

M&S's chairman topped up his holdings just over a fortnight after the company's full-year results sent shares in the ubiquitous fashion retailer tumbling.

On that occasion, the firm reported a 2.4% increase in revenues to reach £10.6bn, while pre-tax profit took a 19.5% hit to £483.3m, with the latter mainly down on account of impairments and asset write-offs.

Nevertheless, the final dividend was upped by 3.9% to 18.7p.

On 9 June, Robert Swannell forked out £99,024.07 of his own cash to pick up 26,298 shares priced at 376,55p each.

That took his personal holdings in the firm to 169,298 shares.

In the previous session, analysts at Morgan Stanley told clients they now had "increased conviction" the nearer-term risk-reward in M&S shares was "very favourable".

"Last week's announcement that BHS is to be wound down should ease pressure on its competitors. We expect M&S to be the biggest beneficiary. While it is unlikely to change M&S's longer-term prospects, it increases our conviction that the nearer-term risk reward is now very favourable," analysts Geoff Ruddell, Anisha Singhai and Amy Curry said in a research report sent to clients.

The stock closed the Thursday session 1.10% higher at 379.3p against the backdrop of a falling market, giving the firm a market capitalisation of £6,159.38m.

Top Director Buys

Marks & Spencer Group (MKS)
Director name: Swannell,Robert
Amount purchased: 26,298 @ 376.55p
Value: £99,024.07

Gresham Computing (GHT)
Director name: Manocha,Ian
Amount purchased: 75,000 @ 96.00p
Value: £72,000.00

Croma Security Solutions Group (CSSG)
Director name: Fiorentino,Roberto
Amount purchased: 25,000 @ 37.00p
Value: £9,250.00

Croma Security Solutions Group (CSSG)
Director name: Hewson,Andrew Nicholas
Amount purchased: 13,750 @ 38.18p
Value: £5,250.00

Croma Security Solutions Group (CSSG)
Director name: Percy ,James
Amount purchased: 5,500 @ 37.50p
Value: £2,062.50

North American Income Trust (the) (NAIT)
Director name: Rice,Susan
Amount purchased: 135 @ 906.58p
Value: £1,223.88

Foreign And Colonial Inv Trust (FRCL)
Director name: Bone,Roger
Amount purchased: 224 @ 443.40p
Value: £993.22

Foreign And Colonial Inv Trust (FRCL)
Director name: Hewitt,Jeffrey
Amount purchased: 112 @ 443.40p
Value: £496.61

Prudential (PRU)
Director name: Wells,Mike
Amount purchased: 13 @ 1,308.50p
Value: £170.11

Top Director Sells

Nichols (NICL)
Director name: Croston,Tim
Amount purchased: 623 @ 1,428.00p
Value: £8,896.44