Diageo director buys shares after stronger second quarter

A non-executive director in the alcoholic beverages group Diageo bought some shares showing confidence in the company following a much improved performance in its second quarter.

Alan Stewart purchased 1,500 new shares at an individual price of 1,970p, spending a total of £29,550 in the transaction.

Stewart, who was appointed to the board in May last year, holds now 1,500 shares in Diageo.

The company released last Thursday its second quarter results where it saw stronger net sales, volumes and margins after a bad start to its financial year.

Earnings per share were down 14.2% to 53.7p but free cash flow of £699m was more than double that in the first half last year.

Chief executive Ivan Menezes said at the time: "We have already taken action to improve the performance of those brands and markets that have not performed as well as we would expect.

“This contributed to our stronger second quarter performance and I expect to maintain this momentum through the year."

Top Director Buys

Blinkx (BLNX)
Director name: Mr Mark William Opzoomer
Amount purchased: 225,000 @ 27.70p
Value: £62,325

Diageo (DGE)
Director name: Mr Alan Stewart
Amount purchased: 1,500 @ 1,970.00p
Value: £29,550

Braemar Shipping Services (BMS)
Director name: Mr Jürgen Breuer
Amount purchased: 5,000 @ 465.00p
Value: £23,250

AFH Financial Group (AFHP)
Director name: Mr Mark Chambers
Amount purchased: 9,952 @ 150.20p
Value: £14,948

Top Director Sells

AFH Financial Group (AFHP)
Director name: Mr Mark Chambers
Amount sold: 10,000 @ 150.00p
Value: £15,000