New Serco CEO Soames marks arrival with large share purchase

Rupert Soames, who last week took up the role of Chief Executive Officer at embattled Serco Group, has given a show of faith in his own leadership - and taken advantage of the latest dip in its share price - with the purchase of 242,000 shares at 354.30p a share.The £857,406 deal gives a show of faith following a recent profit warning and plans to raise around £170m in an affort to strengthen its balance sheet. Alastair Lyons, Serco's Non-Executive Chairman, made a more modest purchase of 29,000 shares at the less price of 344.96p, spending a total of £100,038. The group, which operates the DLR line, pictured, also last week said its year-to-date performance had been weaker than expected, with the company forced to warn on full year profits. It has said that adjusted operating profit in 2014 would be not less than £170m, down from guidance £220-250m just seven weeks ago. Adjusted earnings per share is expected to be of "no less than" 19p at constant currency with adverse forex movements having a further 1p negative impact, around a 37% downgrade compared to previous guidance of 28p-33p at constant exchange rates. The company said the resulting financial shortfall has made original targets for the second half of 2014 "even more challenging" and therefore required the board to take a more cautious view of projections. Top Director BuysSerco Group (SRP) Director name: Mr Rupert SoamesAmount purchased: 242,000 @ 354.30p Value: £857,406Silence Therapeutics (SLN) Director name: Mr Ali MortazaviAmount purchased: 129,399 @ 230.00p Value: £297,618Sinclair Is Pharma (SPH) Director name: Mr Robert Stuart SwansonAmount purchased: 900,000 @ 30.62p Value: £275,580Serco Group (SRP) Director name: Mr Alastair Lyons CBEAmount purchased: 29,000 @ 344.96p Value: £100,038Modern Water (MWG) Director name: Mr R Michael GradonAmount purchased: 300,000 @ 29.50p Value: £88,500Silence Therapeutics (SLN) Director name: Mr Tim FreebornAmount purchased: 10,000 @ 230.00p Value: £23,000Top Director SellsKingfisher (KGF) Director name: Mr Philippe TibleAmount sold: 113,047 @ 423.80p Value: £479,093Hammerson (HMSO) Director name: Mr David AtkinsAmount sold: 12,030 @ 576.00p Value: £69,293Hammerson (HMSO) Director name: Mr Peter W B ColeAmount sold: 8,636 @ 576.00p Value: £49,743NR