Thu 15 Feb 2007
LONDON (SHARECAST) - QinetiQ Group, the defence manufacturer and security firm, floated a year ago amid a flurry of interest in the former Ministry of Defence division.
The group, which started as part of the MOD's defence research laboratories, enjoyed a bullish start after its float was 20 times oversubscribed, however it has fared less well since.
Chief executive Graham Love has made his first dealing in the shares, selling 2.9m at 205p per share and netting £5.95m in the process. That leaves him with a stake of 7.78m
Shares in QinetiQ have struggled in their first year on the market but some upbeat announcements and record half year results on the back of strong US growth have helped them climb back to flotation levels.
Sunday, February 18, 2007
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