Carnival's Ratcliffe clears out stake

Peter Ratcliffe, a director at cruises giant Carnival, has netted almost £160,000 from the sale of a stake in the Cunard Line and P&O Cruises group.

He sold 12,567 shares at an average of $17.81 (1,249p), leaving him with no shares and 52,500 restricted stock units.

At P&O since 1973, Ratcliffe retired as chief executive of P&O Princess last year. He'd been an executive director of Carnival since the merger between Carnival Corp and P&O Princess Cruises in 2003.

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Carnival shares have fallen over 40% during the past 12 months and by 21% since the start of 2009

In December, the firm cut its earnings guidance for next year and said 2009 occupancy levels for advance bookings are running behind the prior year.

It now forecasts full year earnings per share to be in the range of $2.25 to $2.75, compared to its previous guidance range of $2.50 to $3.00.

Top Director Buys

Value: € 56,895

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Top Director Sells

Value: £156,929

Value: £18,694