6th May 2016 16:18
LONDON (Alliance News) - The following is a summary of director dealings reported in London on Friday.
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Rolls-Royce Holdings Chief Financial Officer David Smith bought shares after the FTSE 100 company said its 2016 results will be significantly weighted to the second half as its markets remain challenging and it barrels ahead with its massive restructuring.
Smith bought 6,504 shares at 614.95 pence each on Friday, taking his shareholding to 35,469 shares.
On Thursday, Rolls-Royce said it was on track to deliver targeted savings of GBP30.0 million to GBP50.0 million a year in 2016, while legacy restructuring efforts in its civil aerospace, defence aerospace and marine businesses are progressing to plan.
Rolls-Royce said profit for 2016 will be significantly weighted to the second half, with the first half expected to be close to break even, stripping out finance charges and tax. The group said the outlook for the second half is brighter, based on increased large engine deliveries, good underlying growth in aftermarket revenue and anticipated benefits from the restructuring programme.
Shares in the power systems developer closed up 0.7% at 634.48p Friday.
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Defence contractor BAE Systems said General Counsel Philip Bramwell bought 23,000 shares at 479.20p per share Thursday.
Bramwell's total shareholding was undisclosed.
BAE Systems on Wednesday said trading so far in 2016 has been in line with its expectations. The group said its outlook for 2016 remains unchanged, with underlying earnings per share anticipated to rise by between 5% and 10% against the adjusted 36.6 pence posted for 2015. The underlying result for 2015 of 40.2p was adjusted for a 4.3p tax provision release and 0.7p currency benefit.
The stock closed up 0.4% at 482.68p Friday.
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Lancashire Holdings said Chief Executive Officer Alex Maloney bought 18,955 shares at 526.5p per share Thursday. Following the purchase, Maloney holds a total of 445,516 shares in the FTSE 250 non-life insurer. Lancashire on Thursday said pretax profit in the three months ended March 31 dropped to USD26.5 million from USD51.5 million in the same period the year before, as gross premiums written fell to USD230.8 million from USD244.3 million, in what Maloney described as "a very tough underwriting environment". The stock closed up 1.4% at 548.00p Friday.
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Internet domain operator Minds + Machines Group said Chairman Guy Elliott bought 100,000 shares at 8.5 pence each on Thursday. After the purchase, Elliot now holds 22.6 million shares, which equates to a 2.99% stake in the company. The company also said Chief Financial Officer Michael Salazar bought 50,000 shares at 8.75p each. After the purchase, Salazar holds 1.9 million shares, or a 0.25% stake. The stock closed up 5.9% at 9.00p Friday.
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Cambridge Cognition Holdings said Chief Executive Officer Steven Powell bought 30,000 shares at 36p per share on Thursday. Following this purchase, Powell holds 70,541 shares, representing 0.34% of the issued share capital. Cambridge Cognition said Thursday that it has submitted its CANTAB Mobile product to the US Food & Drug Administration for clearance as a medical device. The product was developed to detect episodic memory impairments in early stage Alzheimer's disease patients aged over 50. The company said, following its establishment of a commercial team in the US in 2015 to drive sales, this submission markets the "first step" in broadening out its healthcare technologies into the American market. Shares in the neuropsychological tests developer closed down 3.9% at 37.50p Friday.
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Non-Standard Finance said Non-Executive Director Heather McGregor bought 7,878 shares at 64p per share on Friday. Following the purchase, McGregor holds 51,202 shares in the lender. The company also saod Chief Financial Officer Nicholas Teunon purchased 10,000 shares at a price of 62.5p each. Following the above purchase, Teunon holds 50,921 shares. The stock closed up 1.6% at 62.00p Friday.
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Phoenix Spree Deutschland said Non-Executive Director Quentin Spicer, together with his wife, Jayne Elizabeth Spicer, bought 10,000 shares at 179.0p per share Thursday. Following the purchase, Spicer holds 23,200 shares, equal to 0.0251% stake. The stock closed down 0.1% at 178.90p Friday.
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By Arvind Bhunjun; [email protected]; @ArvindBhunjun
Copyright 2016 Alliance News Limited. All Rights Reserved.
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