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Whitbread chief keeps the faith

Tue, 13th Dec 2011 15:39
Whitbread chief executive Andy Harrison made a firm declaration of his faith in the firm, purchasing nearly £200,000-worth of shares on the same day the company admitted sales growth had slowed.The Costa Coffee and Premier Inn owner disappointed investors after the figures suggested that even the company's coffee shops are starting to run out of steam. Although total sales for the group's third quarter - the 13 weeks to December 1 - were up 11.4% on a like-for-like basis, sales compared to the previous half were down. Harrison, who purchased 13,338 shares at 1,490.00p each, said: "Although this is a reflection of the general economic climate, I would say that's pretty impressive growth in total sales." Costa Coffee was Whitbread's best performing division, but saw LFL sales growth drop from 6.7% to 3.8% from one half the next, while sales at Premier Inn hotels grew just 2.6% in the third quarter compared to 5.2% in the previous half."Our like-for-like sales performance keeps us on track to deliver full year results in line with expectations," Harrison added. Top Director BuysWhitbread (WTB) Director name: Mr Andy Harrison Amount purchased: 13,338 @ 1,490.00p Value: £198,736BATM Advanced Communications Ltd. (BVC) Director name: Dr Zvi MaromAmount purchased: 1,000,000 @ 12.43p Value: £124,300Greencore Group (GNC) Director name: Mr Alan WilliamsAmount purchased: 150,000 @ € 0.64 Value: € 96,000Northern Investors Co (NRI) Director name: Mr John C BarnsleyAmount purchased: 11,089 @ 257.00p Value: £28,499Consort Medical (CSRT) Director name: Mr Jim DickAmount purchased: 5,000 @ 544.53p Value: £27,226Total Produce (TOT) Director name: Mr Frank DavisAmount purchased: 31,828 @ 33.77p Value: £10,748Total Produce (TOT) Director name: Mr John Frank GernonAmount purchased: 31,828 @ 33.77p Value: £10,748Total Produce (TOT) Director name: Mr Carl McCannAmount purchased: 31,828 @ 33.77p Value: £10,748Total Produce (TOT) Director name: Mr Rory ByrneAmount purchased: 30,075 @ 33.77p Value: £10,156Top Director SellsNorthern Investors Co (NRI) Director name: Mr John C BarnsleyAmount sold: 11,839 @ 300.00p Value: £35,517Northern Investors Co (NRI) Director name: Mr Frank NealeAmount sold: 4,400 @ 300.00p Value: £13,200NR

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