Ahmed's £10m from Moss Bros
13 April 2012
FASHION entrepreneur Shami Ahmed made up to £10 million profit from selling his 23% stake in suits group Moss Bros last week.
The profit comes after three years of gambling on the Moss share price by Ahmed using financial instruments called contracts for difference.
He had earlier made a takeover approach. The approach was rejected by Moss in 2002.
The entrepreneur continued to raise his investment until selling out last week to Kevin Stanford, the co-founder of the Karen Millen fashion chain.
Stanford controls 28% of Moss. News of the sale boosted Moss Bros's share price, which closed on Friday at a year high of 92p.
