Debenhams chief executive Michael Sharp has increased his share in Debenhams after buying £74,000 of shares yesterday.

The acquisition of 100,000 shares, priced at 74.32p each, has upped his shareholding in the department store chain to 5,954,579, equivalent to 0.465% of the business.

Debenhams shares reached a high of 75.6p last Thursday, dropping to 71.7p on Monday.

The largest shareholders in Debenhams include asset management firms Bestinver Gestion and Shroders which hold a 12% portion.

In its last update to the City, the retailer exceeded expectations as pre-tax profit increased 1.4% to £127.1m in the first half to March 3.

The rise was credited to Sharp’s strategy to push international and multichannel growth.