BAE chairman invests £22,000

published 18 February 2011

BAE Systems chairman Dick Olver has invested nearly £22,000 in the defence company's shares.

He bought 3,343 shares at 337.6p each and his wife acquired 3,133 shares at 338.27p each.

This follows yesterday's disappointing trading statement. BAE is expecting sales in 2011 to dip as cutbacks in government spending start to bite.

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The company saw sales edge up by 1.8% in 2010 to £22,392m from £21,990m in 2009. The market had pencilled in a figure of £22,548m for sales.

Profit before tax from continuing operations was £1,027m, compared to a loss of £61m in 2009.

Underlying earnings before interest, tax and amortisation improved to £2,214m from £2,197m the year before, while underlying earnings per share (EPS) climbed to 40.8p, versus market expectations of 41.85p, from 40.1p the year before.

BAE has declared its bid for AIM-quoted IT security business Norkom unconditional.

Top Director Buys

Marwyn Value Investors Ltd. (MVI) Director name: Mr Eitan MilgramAmount purchased: 100,000 @ 122.30p Value: £122,300

PetroLatina Energy (PELE) Director name: Mr Juan Carlos RodriguezAmount purchased: 30,000 @ 40.75p Value: £12,225

BAE Systems (BA.) Director name: Mr Richard L OlverAmount purchased: 3,343 @ 337.60p Value: £11,286

BAE Systems (BA.) Director name: Mr Richard L OlverAmount purchased: 3,133 @ 338.27p Value: £10,598

Top Director Sells

Domino's Pizza UK & IRL (DOM) Director name: Mr Christopher MooreAmount sold: 832,792 @ 500.00p Value: £4,163,960

Domino's Pizza UK & IRL (DOM) Director name: Mr Lee D GinsbergAmount sold: 446,176 @ 500.00p Value: £2,230,880

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