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.
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
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
Value: $39,888
Value: £24,200
Value: £20,650
Value: £10,080
Top Director Sells
Value: £156,929
Value: £18,694
-
Review: Trasierra – a yoga retreat in the Spanish hillsFlora Connell joins a yoga retreat at Trasierra, in the Sierra Morena mountains north of Seville
-
How much should I have in emergency savings?When your boiler breaks or your car won’t start, you can find yourself paying a hefty bill. How much should you have in emergency savings to cover unexpected costs?
