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TalkTalk director walks the walk

Perhaps to assuage fears of another cyber attack, the telco's security boss has snapped up shares.
February 10, 2016

Charles Bligh, the boss of TalkTalk Telecom's (TALK) business division, must enjoy a challenge. He took on the role of security chief within weeks of the highly publicised cyber attack on the cut-price telco in October 2015. In a bid to win investors' trust, he has splurged almost £1.5m on roughly 618,000 shares in the group.

IC TIP: Buy at 200p

On the same day as his purchase, TalkTalk blamed the hack for the loss of at least 95,000 customers and £15m in sales in the third quarter. Management also pegged clean-up costs at £40m to £45m. But it remained confident that a second-half rebound would drive cash profits up at least 4 per cent this financial year. Accordingly, analysts at Raymond James expect EPS of 10.4p, rising to 16.8p for the year to March 2017 (8.2p in FY2015).

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