Rolls Royce director sells stake worth almost two million pounds

4th Mar 2013 14:52

The President and Chief Executive Officer of Rolls-Royce North America, James Guyette, on Friday sold 1.966m pounds-worth of shares in the global power systems company, just two weeks after it delivered a 24 per cent leap in annual profits. Guyette, who was appointed to the board in January 1998, disposed of 194,024 shares at 1,013.49p each. Two of his fellow board members also reduced their holdings, namely Colin Smith, the Director of Engineering and Technology, who sold 56,178 shares at 1,023.50p, and Lawrie Haynes, who traded in 40,448 for the same price. Just over a fortnight ago the company said the strong rise in its annual profits had been driven by a strong performance in its civil aerospace unit. Underlying pre-tax profits rose to £1.4bn in 2012, up from £1.1bn the previous year. It beat a £1.37bn estimate by a poll of 14 analysts at Thomas Reuters. Revenues grew 8.0% to £12.2bn for the period while the order book climbed 4.0% to £60.1bn thanks to high demand for its Trent aircraft engines. Top Director BuysLaw Debenture Corp. (LWDB) Director name: Ms Caroline BanszkyAmount purchased: 22,865 @ 466.80p Value: £106,734Top Director SellsRolls-Royce Holdings (RR.) Director name: Mr James GuyetteAmount sold: 194,024 @ 1,013.49p Value: £1,966,414Rolls-Royce Holdings (RR.) Director name: Mr Colin SmithAmount sold: 56,178 @ 1,023.50p Value: £574,982Lancashire Holdings (LRE) Director name: Mr Neil William McConachieAmount sold: 44,975 @ 917.00p Value: £412,421SSE (SSE) Director name: Mr Ian MarchantAmount sold: 12,062 @ 1,463.16p Value: £176,486Lavendon Group (LVD) Director name: Mr John StandenAmount sold: 56,983 @ 174.50p Value: £99,435Law Debenture Corp. (LWDB) Director name: Ms Caroline BanszkyAmount sold: 12,000 @ 462.80p Value: £55,536SSE (SSE) Director name: Mr Ian MarchantAmount sold: 3,500 @ 1,463.16p Value: £51,211Lavendon Group (LVD) Director name: Mr Mark JohnsonAmount sold: 27,365 @ 177.00p Value: £48,436NR