Asos founder Nick Robertson has cashed in £15.3 million from a share sale in the online clothing retailer.

Mr Robertson, who is a non-executive director and former chief executive of the firm, offloaded 410,000 shares at 3,722.5p each, according to a stock exchange filing.

He continues to hold 4.6 million shares, or a 5.5 per cent stake, in Asos.

Shares in the firm took a hit in December after the group issued a profit warning as slower sales and lower margins took their toll.

READ MORE: Asos profits tumble with expansion costs and heavy discounting blamed

Despite a recovery since then, they are down 38% over the past 12 months and currently stand at 3,851p.

Shares dived at Pendragon as the car dealer announced a review into operations after it fell to an unexpected loss.

The Evans Halshaw and Stratstone owner saw first-quarter like-for-like gross profits slide 5.4% on new cars, 1.6% on used cars and 5% on aftersales, which includes servicing and repairs.

The dealer said it was impacted by "challenging trading conditions" and increased operating costs.

DS Smith has agreed to sell two of its packaging businesses in a £54 million deal that will appease competition regulators.

The FTSE 100 boxmaker said the sales would fulfil its commitment to the European Commission in relation to its acquisition of Europac.

The businesses, based in north-western France and Portugal, will be acquired by New York-listed International Paper for 63 million euros (£54 million).