1st May 2019 14:07
LONDON (Alliance News) - FTSE 100-listed supermarket chain J Sainsbury PLC said its boss and finance chief had both bought shares in the firm worth a combined GBP390,000 in a pair of transactions on Wednesday.
Chief Executive Officer Mike Coupe acquired 100,000 shares at 230.65 pence each, worth GBP230,650. Following the transaction, Coupe - in post since 2014 - held 1.7 million shares in the firm.
Chief Financial Officer Kevin O'Byrne bought 70,000 shares at 229.50 pence each, worth GBP160,650. O'Byrne - numbers chief since 2016 - held 250,000 shares in the company after the transaction.
Shares in Sainsbury's were 4.2% higher at 231.80 pence on Wednesday.
Earlier on Wednesday, the supermarket reported annual pretax profit narrowed 42% to GBP239 million from GBP409 million despite revenue rising 1.9% to GBP29.0 billion.
This was primarily due to a number of charges, including GBP46 million in costs related to its failed merger with UK rival Asda after regulators blocked the move.
On an underlying basis, pretax profit rose 7.8% to GBP635 million - slightly above market consensus of GBP626 million.
Related Shares:
Sainsbury's