New Serco chairman opens account
A round-up of the biggest director deals today so far.
The wife of Serco's new chairman Alastair Lyons has opened the couple's account in the firm with the purchase of nearly £100,000 worth of shares.
Shauneen Lyons bought 15,000 shares in the company, paying 632.97p a time.
The purchase comes the day after Serco, whose activities include operating London's Docklands Light Railway, said it is on track to meet its financial guidance for 2010 after a strong performance in the first half of the year so far.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Companies such as Serco are hoping to benefit from their ability to help run services more cheaply and efficiently as governments look to cut costs following the economic crisis.
'The global demand in the current economic environment for the efficient delivery of essential services is driving significant opportunities for us in both existing and new markets,' Serco said.
'This, together with our substantial order book, excellent revenue visibility, strong capabilities and operational track record, supports our expectation of achieving strong organic revenue growth in 2010 and making further progress towards our 2012 margin guidance.'
Lyons was appointed chairman of Serco in March. He has also been chairman of the car insurer Admiral and is deputy chairman of the housebuilder Bovis.
Top Director Buys
Serco Group (SRP) Director name: Mr Alastair Lyons CBEAmount purchased: 15,000 @ 632.97p Value: £94,946
COLT Telecom Group S.A. (COLT) Director name: Mr Stuart JacksonAmount purchased: 65,000 @ 122.66p Value: £79,729
Babcock International Group (BAB) Director name: Mr Kevin ThomasAmount purchased: 5,084 @ 590.00p Value: £29,996
Spirent Communications (SPT) Director name: Mr Alexander WalkerAmount purchased: 20,000 @ 110.00p Value: £22,000
St. Modwen Properties (SMP) Director name: Mr David N C GarmanAmount purchased: 10,000 @ 180.54p Value: £18,054
ZincOx (ZOX) Director name: Mr Rod BeddowsAmount purchased: 30,000 @ 51.50p Value: £15,450
Greggs (GRG) Director name: Ms Julie BaddeleyAmount purchased: 3,000 @ 476.90p Value: £14,307
Top Director Sells
Rolls-Royce Group (RR.) Director name: Mr Mike TerrettAmount sold: 180,556 @ 601.00p Value: £1,085,142
Fidessa (FDSA) Director name: Mr Andy MalpassAmount sold: 68,700 @ 1,305.00p Value: £896,535
Sign up to Money Morning
Our team, led by award winning editors, is dedicated to delivering you the top news, analysis, and guides to help you manage your money, grow your investments and build wealth.
-
Three British small cap bargains to boost profitability
Three British small caps to invest in, according to Edward Wielechowski of the Odyssean Investment Trust
By Ed Wielechowski Published
-
What is the Mansion House speech - and why does it matter to you?
Chancellor Rachel Reeves will deliver her first Mansion House speech this week. We look at what could be announced, and how it could affect your finances
By Ruth Emery Published