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Investors were quick to make their displeasure known after Smiths Group announced the sale of its medical division. Shareholders showed their disappointment at the £1.7 billion price tag, as the stock tumbled 10 per cent, or 157.7p, to 1414.5p. The deal with private equity firm TA Associates was announced after the stock market closed on Monday – and as traders got back to their posts yesterday, shareholders were hot-footing their way out of Smiths Group. Investors were quick to make their displeasure known after Smiths Group announced the sale of its medical division They had been expecting around £2 billion for the medical unit, which makes ventilators and tracheotomy tubes. But Smiths said TA’s approach was superior and ditching the division would allow it to focus on its core industrial technology business, which makes items including components for the aerospace industry and baggage screening devices. ....
Rotork H1 Adj. Operating Profit Rises; CEO Kevin Hostetler To Resign LONDON (dpa-AFX) - Rotork plc (ROR.L) reported that its first-half profit before tax increased to 54.15 million pounds from 49.97 million pounds, previous year. Earnings per share was 4.7 pence compared to 4.4 pence. Adjusted operating profit was 62.7 million pounds, 2.4% higher year-on-year (6.5% OCC) reflecting increased sales and benefits from the Growth Acceleration Programme which were partly offset by foreign exchange headwinds and significantly higher logistics costs. Adjusted earnings per share was 5.5 pence compared to 5.4 pence. First-half revenue was 288.26 million pounds, 1.8% higher year-on-year (5.7% OCC). Group order intake decreased 0.8% year-on-year, but increased 3.2% on an OCC basis, to 298.2 million pounds. ....
3 August 2021 | 08:23am StockMarketWire.com - UK stocks made modest gains in early trading on Tuesday after a number of companies, including oil giant BP, either resumed or lifted capital returns to shareholders. At 0815, the benchmark FTSE 100 index was up 9.80 points, or 0.1%, at 7.091,52. Oil major BP gained 2.7% to 297.46p, having upped its quarterly dividend and unveiled plans for a $1.4 billion buyback after swinging to a profit on rising oil prices. BP s underlying replacement cost profit was $2.8 billion compared with a year-on-year loss of $6.68 billion. It declared a quarterly dividend of 5.46c per share, up 4% year-on-year. Banking group Standard Chartered added 0.2% to 437.4p after it booked a 57% rise in first-half profit, as a drop off in credit impairments more than offset a fall in revenue. ....
3 August 2021 | 07:30am StockMarketWire.com - Industrial flow equipment specialist Rotork reported an 8.4% rise in first-half profit, as orders improved in the water, power and chemicals sectors, offsetting weaker demand in oil and gas. The company also announced that chief executive Kevin Hostetler would stand down to return home to the US with his young family next year. Kevin is fully committed to leading Rotork through his notice period, and to ensuring an effective handover to his successor, at which time he will step down from the Board and as Chief Executive Officer of Rotork. This process is expected to conclude by 30 June 2022. ....
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