Recently appointed non-executive director Paul Murray has invested nearly £50,000 in defence group QinetiQ following the release of its interim figures.
Murray bought 44,377 shares at 112.08p a share. This is his total holding in QinetiQ. He was appointed to the board on 25 October.
Murray is also a non-executive director at the Royal Mail. Murray has previously been finance director of Carlton Communications and LASMO.
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Shares in QinetiQ rose strongly after the interim results were published and Murray was not quick enough to buy his shares before the share price had jumped.
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The market was pleased by improved underlying interim figures and the promise of a full year dividend.
QinetiQ cancelled its dividend last year and there was no interim this time either, but the firm says it expects to make a payment at the end of this financial year.
QinetiQ reported a loss of £37.6m in the half-year to September 2010 from a £1.3m loss in the first half of the previous year. However, there were £37.1m of rationalisation charges and bid costs on the now cancelled Defence Training Review programme.
Revenues rose 7% to £865m, while adjusted profits increased 14% to £51.6m from £45.1m.
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Mission Marketing Group (TMMG) Director name: Mr Robert Andrew DayAmount purchased: 1,773,225 @ 7.00p Value: £124,126
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