LONDON (ShareCast) - 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 (Milan: ENG.MI - news) 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 (BSE: TRENT.BO - news) aircraft engines.
Top Director Buys
Law Debenture Corp. (LWDB)
Director name: Ms Caroline Banszky
Amount purchased: 22,865 @ 466.80p
Value: £106,734
Top Director Sells
Rolls-Royce Holdings (RR.)
Director name: Mr James Guyette
Amount sold: 194,024 @ 1,013.49p
Value: £1,966,414
Rolls-Royce Holdings (RR.)
Director name: Mr Colin Smith
Amount sold: 56,178 @ 1,023.50p
Value: £574,982
Lancashire Holdings (LRE)
Director name: Mr Neil William McConachie
Amount sold: 44,975 @ 917.00p
Value: £412,421
SSE (SSE (LSE: SSE.L - news) )
Director name: Mr Ian Marchant
Amount sold: 12,062 @ 1,463.16p
Value: £176,486
Lavendon Group (LSE: LVD.L - news) (LVD)
Director name: Mr John Standen
Amount sold: 56,983 @ 174.50p
Value: £99,435
Law Debenture Corp. (LWDB)
Director name: Ms Caroline Banszky
Amount sold: 12,000 @ 462.80p
Value: £55,536
SSE (SSE)
Director name: Mr Ian Marchant
Amount sold: 3,500 @ 1,463.16p
Value: £51,211
Lavendon Group (LVD)
Director name: Mr Mark Johnson
Amount sold: 27,365 @ 177.00p
Value: £48,436
NR
Credit cards
0% balance transfers up to 26 months, 0% purchases up to 16 months - compare 200+ credit cards insta … More »Credit cards