FirstGroup FD buys initial stake

Recently appointed FirstGroup finance director Jeff Carr has not let the industrial dispute at the bus and train operator's Thameslink subsidiary put him off buying his first shares in the group. Carr spent £58,198 on 15,000 shares.

Carr was previously finance director of budget airline easyJet. He has also worked in the finance area for Associated British Foods plc, Reckitt Benckiser, Grand Metropolitan and Unilever.

In August, Carr sold all his shares in easyJet. He raised just over £135,000 from the sale of his existing shares and made a gain of £119,000 when he exercised options and immediately sold them. He has invested less than one-quarter of this cash in his FirstGroup shares.

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Last week, FirstGroup reported a 44% fall in profits to £30.3m in the six months to September 2009, even though revenues rose from £2.77bn to £2.9bn. The company hopes to achieve £200m of annual cost savings this year.

Value: £58,198

Value: £40,910

Value: £19,890

Top Director Sells

Value: $295,312

Value: $295,312

Value: $295,312

Value: $295,312

Value: £19,890