New Premier Foods CEO opens account

Gavin Darby, the new Chief Executive Officer of Premier Foods, purchased 0.7m pounds-worth of shares on Thursday, the same day the debt-laden food manufacturer posted an increase full year underlying trading profit. The CEO, who was appointed to the role last month, bought 750,268 shares at 93.30p a time, his only holding in the group. The group said it expects to make progress in the year ahead, despite persistently challenging markets, after underlying trading profit, which excludes all disposals announced in 2011 and 2012, rose 10.6% to £123.4m. Premier Foods sold Sarson's vinegar and Branston pickle in 2012 to help reduce debts of £1.3bn. The owner of the Hovis, Mr Kipling and Loyd Grossman brands, said adjusted pre-tax profit from continuing operations rose to £85.2m in the year ended December 31st 2012 from £72.6m a year earlier. Annual sales fell 12.2% to £1.8bn. The company had an eventful 2012, including the surprise resignation of CEO Michael Clarke in January after just 18 months in the job. Darby said of the results: "It's important now to maintain continuity and focus on executing our existing strategies to build further momentum in Grocery while re-building value in Bread." Another of other directors made smaller purchases, totalling 130,536 shares. Top Director BuysPremier Foods (PFD) Director name: Mr Gavin DarbyAmount purchased: 750,268 @ 93.30p Value: £700,000Energy XXI (Bermuda) (Di) (EXXI) Director name: Mr John Daniel Schiller JrAmount purchased: 10,000 @ $30.50 Value: $305,000Digital Barriers (DGB) Director name: Mr Zak DoffmanAmount purchased: 63,800 @ 186.64p Value: £119,076TXO (TXO) Director name: Mr Timothy BaldwinAmount purchased: 10,000,000 @ 0.20p Value: £21,000Premier Foods (PFD) Director name: Mr Ian Krieger Amount purchased: 20,000 @ 93.30p Value: £18,660Premier Foods (PFD) Director name: Mrs Jennifer LaingAmount purchased: 16,078 @ 93.30p Value: £15,001Marks & Spencer Group (MKS) Director name: Mr Andrew HalfordAmount purchased: 3,000 @ 377.30p Value: £11,319Top Director SellsMondi (MNDI) Director name: Mr Peter OswaldAmount sold: 92,683 @ 842.49p Value: £780,836Mondi (MNDI) Director name: Mr David A HathornAmount sold: 89,752 @ 842.49p Value: £756,143Mondi (MNDI) Director name: Mr Peter OswaldAmount sold: 42,756 @ 846.00p Value: £361,716Mondi (MNDI) Director name: Mr Peter OswaldAmount sold: 40,000 @ 844.50p Value: £337,800Mondi (MNDI) Director name: Mr Andrew KingAmount sold: 36,835 @ 842.49p Value: £310,328Mondi (MNDI) Director name: Mr Andrew KingAmount sold: 25,000 @ 838.63p Value: £209,658Mondi (MNDI) Director name: Mr Peter OswaldAmount sold: 20,000 @ 845.82p Value: £169,164Mondi (MNDI) Director name: Ms Carol HuntAmount sold: 14,728 @ 842.49p Value: £124,080