Cable & Wireless directors were busy trading shares in the telecoms group again today, buying over £500,000 worth this time.
Tim Pennington, finance boss since November last year, spent nearly £400,000 on 284,000 shares at 139.8p each.
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
Today's activity follows yesterday's £264,000 acquisition by chairman Richard Lapthone.
C&W shares plunged Thursday, despite largely in-line full-year results, as two director sales, said to be of shares awarded under C&W's performance related share scheme, rocked confidence.
Profit before tax for the 12 months ended 31 March rose to £422m from £308m a year ago, although exceptional items of £189m mean the total figure was down to £233m from £267m. The firm forecasts EBITDA of about £1.025bn for 2009/10.
Top Director Buys
Value: £397,333
Value: £139,800
Value: € 49,932
Value: £49,000
Value: £25,560
Value: £19,942
Value: £15,640
Value: £14,584
Top Director Sells
Value: £400,512
Value: £101,000
Value: £71,295
Value: £15,660
Value: £12,000
-
First Solar is set to shine – should you invest?Solar-power specialist First Solar will benefit from Donald Trump’s policies, says Matthew Partridge
-
Private assets: profit from the potential in these fundsOpinion Charlotte Cuthbertson and Tom Treanor of the Migo Opportunities Trust highlight three funds where they'd put their money
