19th Oct 2016 15:17
LONDON (Alliance News) - WH Smith PLC Wednesday said its two top executives sold shares as the stationery and books retailer reported growth in profit in its recently ended financial year.
Chief Executive Officer Stephen Clarke sold 54,656 shares at 1,547 pence each in a deal worth about GBP845,000 gross on Tuesday.
Chief Financial Officer and Chief Operating Officer Robert Moorhead sold 50,000 shares at the same price Tuesday. The deal is worth around GBP773,500 gross.
In a separate statement, the company also said Clarke exercised options over and subsequently sold a total of 184,634 shares at the same price under its Long Term Incentive Plan and Co-Investment Plan on Tuesday.
Moorhead also exercised options and sold 130,487 shares at the same price under the same share plans.
Clarke and Moorhead's resulting shareholdings were not disclosed.
WH Smith last Thursday delivered a better performance in its high street stores and continued to benefit from growth in its travel arm in its recently-ended financial year.
The company said its pretax profit in the year ended August 31 grew to GBP131 million from GBP121 million the year before, as revenue rose to GBP1.21 billion from GBP1.18 billion.
The stock was up 2.3% at 1,581.00p Wednesday.
By Arvind Bhunjun; [email protected]; @ArvindBhunjun
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