Mr Joe Moran, the chief executive of IWP International, the household products company, acquired 250,000 ordinary shares in the company at €1.69 (£1.33) on Tuesday, bringing his shareholding to 7.1 million ordinary shares or 8.98 per cent of the company's issued share capital.

The company acquired 250,000 of its ordinary shares at the same price on Tuesday, which it intends to use as treasury shares.