10th Sep 2015 12:22
LONDON (Alliance News) - Supermarket chain Wm Morrison Supermarkets PLC said Chief Financial Officer Trevor Strain bought 58,453 shares at a price of 169.8 pence per share Thursday.
His total shareholding following this purchase is 97,794 shares.
Earlier Thursday, the company reported a sharp drop in profit in the first half of its financial year, as its revenue and like-for-like sales continued to decline in a deflationary UK food market and as it competes on price with other supermarkets in the face of discounters Aldi and Lidl.
Morrisons also announced the closure of 11 of its loss-making stores which will cost the company an estimated GBP20 million.
The stock was trading down 4.0% at 168.90p, one of the worst performers on the FTSE 100 Thursday.
By Arvind Bhunjun; [email protected]; @ArvindBhunjun
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