C&W chiefs at it again

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.

Mairi Battersby, a person connected with executive director of human resources George Battersby, snapped up 100,000 shares at the same price.

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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