Director dealings: Fevertree CEO spends £1m after disappointing update

(Sharecast News) - Fevertree Drinks was at the top of the list of director buys on Friday, after its co-founder and chief executive splashed on over £1m of shares.

The maker of tonics and other fizzy mixers said Tim Warrilow bought 115,000 shares for 870.89p each, spending a total of £1,001,520.04, in a single market trade.

It came after its shares tumbled at the open, as the firm downgraded its full-year profit guidance amid higher costs and highlighted an "exceptionally challenging" environment.

The group said the impact of logistics and cost headwinds has significantly worsened in recent months, with it now expecting gross margins of around 37% and an EBITDA margin of about 14% for the first half.

Elsewhere, Litigation Capital Management disclosed a purchase worth more than £0.2m made by its chairman.

The company said Jonathan Moulds bought 250,000 shares on Thursday for 87.4p apiece, valuing the transaction at £218,500.

Following the purchase, LCM said Moulds had an interest in 2,330,000 of its shares, representing 1.95% of its issued capital.

Reporting by Josh White at Sharecast.com.

Top Director Buys

Fevertree Drinks (FEVR)

Director name: Warrillow ,Timothy (Tim) Daniel

Amount purchased: 115,000 @ 870.89p

Value: £1,001,520.04

Litigation Capital Management Limited (di) (LIT)

Director name: Moulds,Jonathan

Amount purchased: 250,000 @ 87.40p

Value: £218,500.00

Lxi Reit (LXI)

Director name: Seaborn,Hugh

Amount purchased: 20,500 @ 145.95p

Value: £29,919.75

Cmo Group (CMO)

Director name: Packer,Suzanne

Amount purchased: 40,000 @ 37.89p

Value: £15,156.00

Amaroq Minerals Ltd. Npv (di) (AMRQ)

Director name: Neuhauser,David Loren

Amount purchased: 31,200 @ $0.63

Value: $11,628.71

Appreciate Group (APP)

Director name: Parsons,Guy Paul C

Amount purchased: 26,455 @ 27.23p

Value: £7,202.43

Appreciate Group (APP)

Director name: Cabrini ,Sally

Amount purchased: 20,000 @ 27.35p

Value: £5,470.00

Appreciate Group (APP)

Director name: Parsons,Guy Paul C

Amount purchased: 10,161 @ 27.30p

Value: £2,773.95

Amaroq Minerals Ltd. Npv (di) (AMRQ)

Director name: Neuhauser,David Loren

Amount purchased: 4,500 @ $0.63

Value: $1,677.22

National Grid (NG.)

Director name: Pettigrew,John

Amount purchased: 14 @ 1,089.00p

Value: £152.46

National Grid (NG.)

Director name: Agg,Andrew

Amount purchased: 14 @ 1,089.00p

Value: £152.46