Monday 20th June 2016 |
Text too small? |
James Pascoe, the retail group owned by David and Anne Norman, has lifted its holding in Warehouse Group to 17.5 percent buying shares on-market last week.
Pascoe bought 244,367 shares for a total of $679,015, or about $2.78 apiece on June 17, it said in a statement to the NZX.
It emerged as a substantial security holder in October 2014 before lifting its holding to 16.4 percent in March 2015 by buying out Australian retailer Woolworths' stake for $87.1 million. At the time, Pascoe said it wasn't interested in making a takeover offer for New Zealand's largest listed retailer.
Pascoe's retail interests include owns Farmers, Whitcoulls, Pascoes, Stevens, Stewart Dawsons and Goldmark.
Warehouse shares last traded at $2.85, the highest in more than two months. The stock is rated a 'sell' based on the consensus of five analysts compiled by Reuters. Last month the Auckland-based retailer lifted third-quarter sales 5.5 percent to $672.2 million and said it's on track to meet its forecast annual profit excluding one-time items of $61 million to $64 million.
BusinessDesk.co.nz
No comments yet
PaySauce Quarterly Market Update - September 2024
October 2nd Morning Report
Rua Releases Annual Report for Year Ended 30 June 2024
SCL - Settlement of orchard sales
The Warehouse Group 2024 ASM and Director Nominations
AIR - Update on Chief Operational Integrity and Safety Officer
Comvita Limited - Annual Report 2024
September 27th Morning Report
Spark announces departure of Finance Director
FBU - Retail Entitlement Offer Opens