Sunday, October 3, 2010

Domino’s Pizza has proved to be one of the most recession-proof stocks on the market

Domino's Pizza

Domino's Pizza Logo

Nigel Wray, the entrepreneur who sits on the board of Domino’s Pizza, has sold more than £9m in shares in the pizza delivery company.

He offloaded 2m shares at 470p a time, benefitting from a strong rise in the share price since his last big sale of shares. Back in June he pocketed nearly £17m as he sold 4.7m shares at 360p a go.

Domino’s Pizza has proved to be one of the most recession-proof stocks on the market, benefitting from people’s tendency to seek small comforts as they cut back on more expensive luxuries.

In July the company posted a 30% rise in half-year profits to £17m as revenues soared.

Domino’s has been rewarding its senior staff for the strong performance. It announced today that it has allocated more than 1.1m shares among chief executive Chris Moore, chief financial officer Lee Ginsberg and Gareth Franks, a director of the company’s main operating subsidiary.

Domino’s Pizza is a spin-off of the US company of the same name. It operates over 550 stores in Britain and Ireland. One of the most recent store opening annoucement was featured this week in Pizza News to be Domino’s Pizza in Pontyclun, South Wales.

Wray still has about 18.3m shares in Domino’s, about 11.35% of the company. He also has stakes in several other companies, and is the chairman of Saracens Rugby Club.

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Top Director Sells

RCG Holdings (RCG)
Director name: Dr Raymond Chu
Amount sold: 5,000,000 @ 40.41p
Value: £2,020,500

Domino’s Pizza UK & IRL (DOM)
Director name: Mr Nigel Wray
Amount sold: 2,000,000 @ 470.00p
Value: £9,400,000

Genus (GNS)
Director name: Mr Richard Wood
Amount sold: 154,639 @ 770.00p
Value: £1,190,720

Homeserve (HSV)
Director name: Mr Richard Harpin
Amount sold: 151,101 @ 471.93p
Value: £713,091

Genus (GNS)
Director name: Mr Ian Farrelly
Amount sold: 17,182 @ 770.00p
Value: £132,301

Homeserve (HSV)
Director name: Mr Jonathan King
Amount sold: 8,900 @ 471.93p
Value: £42,002

News source: sharecast.com

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