LONDON (ShareCast) - (Sharecast News) - Serco chief executive Rupert Soames sold 399,661 ordinary shares in the FTSE 250-listed outsourcing company on Tuesday.
Soames, who took over the reins at Serco back in 2014, disposed of the shares at an average price of 95.70p, for a total value of £382,475.58.

Serco's chief financial officer Angus Cockburn also sold 209,895 for a total value of £200,869.52.

Back in October, Serco appeared to be making more progress on cost savings than Citigroup expected, leading analysts at the bank to upgrade the outsourcer's shares.

Citi, which upgraded the firm to 'neutral' from 'sell', said cost savings in the first half were £3-5m better than it had expected, with lots more still to come.

"Another £10m guided for 2019 looks set to more than offset Atomic Weapons Establishment downwards repricing," Citi analysts wrote, adding that the previous rating was based partly on the lower pricing in the renegotiated AWE contract with the UK government and partly on a wall of forthcoming rebids the company is due to make.

As of 1630 GMT, Serco shares had picked up 1.16% to 93.30p.

Top Director Buys

Futura Medical (FUM)
Director name: Barder,James Henry
Amount purchased: 357,142 @ 7.00p
Value: £24,999.94

Futura Medical (FUM)
Director name: James,Ken
Amount purchased: 285,714 @ 7.00p
Value: £19,999.98

Futura Medical (FUM)
Director name: Hildreth,Angela
Amount purchased: 142,857 @ 7.00p
Value: £9,999.99

Futura Medical (FUM)
Director name: Freeman,Jonathan David
Amount purchased: 7,478 @ 7.00p
Value: £523.46

Emis Group (EMIS)
Director name: Southby,Peter
Amount purchased: 24 @ 915.00p
Value: £219.60

Diageo (DGE)
Director name: Mikells,Kathryn
Amount purchased: 6 @ 2,726.00p
Value: £163.56

Oxford Instruments (OXIG)
Director name: Hill,Gavin
Amount purchased: 15 @ 999.00p
Value: £149.85

Oxford Instruments (OXIG)
Director name: Barkshire,Ian
Amount purchased: 15 @ 999.00p
Value: £149.85



Top Director Sells

Serco Group (SRP)
Director name: Soames,Rupert
Amount sold: 399,661 @ 95.70p
Value: £382,475.58

Serco Group (SRP)
Director name: Cockburn,Angus
Amount sold: 209,895 @ 95.70p
Value: £200,869.52

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