Cable & Wireless Worldwide chairman tops up

The chairman of telecommunications group Cable & Wireless Worldwide, John Pluthero, has bought more shares in the company.

He took 135,912 shares at 73.6p a time, paying a total of about £100,000. Following the purchase he now has about 3.16m shares in the company.

Cable and Wireless Worldwide, despite its name is focused on the UK and is largely focused on the public sector for revenues.

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Investors in the company breathed a sigh of relief Tuesday after it announced that it has convinced the government to spend £82m on a five and a half year global telecoms framework contract.

In May it said that market conditions are improving as it reported a rise in profits for the year to March 31.

In its first set of preliminary results as an independent entity, the firm reported earnings before interest, tax, depreciation and amortisation of £431m for the year to 31 March, up from £326m in 2009. Revenue was little changed at £2.265bn.

Cable and Wireless Worldwide was originally part of the Cable and Wireless group, which was demerged into two parts earlier this year. Confusingly, the other part, Cable and Wireless Communications is operates more globally, in markets such as the Caribbean, Monaco and the Falklands.

Pluthero was appointed chairman of C&W Worldwide in January ahead of the demerger.

Top Director Buys

Cable & Wireless Worldwide (CW.) Director name: Mr John PlutheroAmount purchased: 135,912 @ 73.58p Value: £100,004

GB Group (GBG) Director name: Mr David A RascheAmount purchased: 300,000 @ 26.12p Value: £78,360

Law Debenture Corp. (LWDB) Director name: Ms Caroline BanszkyAmount purchased: 12,500 @ 312.89p Value: £39,111

GB Group (GBG) Director name: Mr David A RascheAmount purchased: 82,000 @ 26.53p Value: £21,755

Randall & Quilter Investment (RQIH) Director name: Mr Paul McNamaraAmount purchased: 12,000 @ 92.00p Value: £11,040

Top Director Sells

SABMiller (SAB) Director name: Mr M I WymanAmount sold: 93,800 @ 1,970.49p Value: £1,848,320

City of London Investment Group (CLIG) Director name: Mr Barry M OlliffAmount sold: 375,000 @ 310.00p Value: £1,162,500

IG Group Holdings (IGG) Director name: Mr Jonathan R DavieAmount sold: 70,000 @ 513.64p Value: £359,548