Smurfit Kappa Group plc acquisition of the largest integrated packaging business in Serbia

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Smurfit Kappa Group plc (LON:SKG), one of the world’s largest manufacturers of paper-based packaging products, with operations in Europe and the Americas, today announced that it has agreed to acquire Fabrika Hartije d.o.o. Beograd paper mill and Avala Ada d.o.o. Beograd (‘Avala Ada’) corrugated plant, in Belgrade, for a consideration of €133 million from Kappa Star Group.

The acquisition will expand SKG’s geographic footprint and provide for full containerboard integration in the Group’s packaging operations in Southeast Europe. FHB and Avala Ada are well invested businesses, with a leading market position in Serbia and solid positions in adjacent countries.

The containerboard mill holds one recently upgraded recycled containerboard machine with a current capacity of 120,000 tonnes and significant potential to drive synergies and further increase capacity with a limited investment of capital. The corrugated plant has a current production of approximately

Standard Life Aberdeen plc Directorate Change

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The Board of Standard Life Aberdeen plc (LON:SLA) today announced that Sir Douglas Flint will be appointed as a Non-Executive Director and Chairman Designate of the Company on 1 November 2018. The Board intends that Sir Douglas will succeed Sir Gerry Grimstone as Chairman on 1 January 2019 and Sir Gerry will stand down from the Board at that time.

Commenting on the appointment, Simon Troughton and Melanie Gee, Co-Chairs of the Appointments Committee, said:

“We undertook a rigorous and comprehensive international search to identify Sir Gerry’s successor and we are very pleased that Sir Douglas will join the Board and become its Chairman. His passion for our Company, his strong track record as chairman and his international experience make him an ideal candidate to lead the Board as we continue to build our global investment business”.

The Board added “We would like to thank Sir Gerry for his years of outstanding servi

DCC plc Board Resignation

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DCC plc (LON:DCC), the leading international sales, marketing and support services group, wishes to announce that Dr. Emma FitzGerald, non-executive Director and member of the Remuneration Committee, has today resigned from the Board with immediate effect. Emma joined the Board in December 2016 and is stepping down now in order to take up the role of CEO at Puma Energy, a privately-owned integrated global energy business.

The Chairman of DCC plc, John Moloney, commented:

“On behalf of the Board, I would like to wish Emma every success in her new role at Puma Energy and thank her for her excellent contribution to the Board during her tenure as a Director over the past 2 years.”

About DCC plc

DCC is a leading international sales, marketing and support services group with a clear focus on performance and growth. It operates through four divisions: LPG, Retail & Oil, Healthcare and Technology. DCC plc

AstraZeneca Plc agreement to divest the prescription medicine rights to Nexium in Europe

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AstraZeneca Plc (LON:AZN) announced the agreement to divest the prescription medicine rights to Nexium (esomeprazole) in Europe, as well as the global rights (excluding the US and Japan) to Vimovo (naproxen/esomeprazole) to Grünenthal. The medicines are outside AstraZeneca’s three main therapy areas of Oncology, Cardiovascular, Renal & Metabolism and Respiratory. Nexium has lost compound patent protection in the majority of global markets. Vimovo is patent protected in most European markets until 2025.

Nexium, a proton pump inhibitor developed by AstraZeneca, helps to reduce the amount of acid produced by the stomach in patients with gastrointestinal reflux conditions and ulcers. It has a number of indications, including the prevention and treatment of gastric ulcers induced by pain-relieving non-steroidal anti-inflammatory drugs (NSAIDs).

Vimovo is a modified-release fixed-dose combination tablet of naproxen, a pain-relieving NSAID and esomeprazole, the act

Ocado Group plc and Kroger sign Master Services Agreement

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Ocado Group plc (LONLOCDO) and The Kroger Co. announced that they have signed service and operational terms including how Kroger will order Customer Fulfilment Centres and the basis on which Ocado will now develop and operate those sites. This is the future services agreement referred to in the announcement made on 17 May 2018.

Under the terms of the agreement, Kroger is expected to order 20 CFCs over the first three years of the agreement, and order the first three CFCs by the end of 2018. The terms and fee structure are similar to those for other transactions to-date combining up-front fees and ongoing capacity fees.

As with other recent deals, Ocado has agreed to install and maintain modules of Mechanical Handling Equipment (“MHE”) sufficient to provide an agreed level of throughput. The target is for Kroger’s CFCs to go live within approximately two years of each order being placed.

In order to expedite the opening of CFCs in the US, the first CFCs ordered

Reckitt Benckiser Group Continued momentum under RB 2.0

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Reckitt Benckiser Group (LON:RB.), today announced results for Q8 2018 trading update.

Q3

YTD 2018

 

£m

LFL1

Reported

£m

Pro-forma1

BP Plc Strong earnings driven by high reliability and major project delivery

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BP Plc (LON:BP.), today announced the results for the 3Q and nine months 2018.

Highlights

– Underlying replacement cost profit for the third quarter of 2018 was $3.8 billion, more than double a year earlier and the highest quarterly result in more than five years, including significant earnings growth from the Upstream and Rosneft.

– Operating cash flow excluding Gulf of Mexico oil spill payments for the quarter was $6.6 billion, including a $0.7 billion working capital build (after adjusting for inventory holding gains).

– Gulf of Mexico oil spill payments in the quarter were $0.5 billion on a post-tax basis.

– Dividend of 10.25 cents a share for the third quarter, 2.5% higher than a year earlier.

• Strong operating performance:

– Very good reliability, with the highest quarterly refining availability for 15 years and BP-operated Upstream plant reliability of 95%.

– Reported oil and gas production was 3.6 million barrels of o

GlaxoSmithKline Plc – ViiV Healthcare presents three-year data for investigational long-acting injectable, two-drug HIV regimen

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GlaxoSmithKline Plc (LON:GSK) – ViiV Healthcare today presented three-year results from LATTE-2,[1] a phase IIb study investigating a long-acting, two-drug, injectable regimen of cabotegravir and rilpivirine. At 160 weeks, the long-acting regimen, administered either every eight weeks or every four weeks, demonstrated high rates of virologic response, long-term durability of virologic response and good overall tolerability. These results were presented at the HIV Glasgow Drug Therapy meeting in Scotland.

John C. Pottage, Jr., MD, Chief Scientific and Medical Officer, ViiV Healthcare, said, “Our two-drug regimen research efforts explore a number of treatment options that look beyond viral load and focus on addressing the unresolved issues that many people living with HIV face. The LATTE-2, three-year data show cabotegravir and rilpivirine as a long-acting injectable regimen may provide an alternative to daily pills, reducing the number of a

HSBC Holding Plc delivering growth from areas of strength

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HSBC Holding Plc (LON:HSBA), today released Q3 2018 earnings.

Financial performance

• Reported profit before tax for 9M18 of $16.6bn was 12% higher than for 9M17, reflecting revenue growth in all of our global businesses, partly offset by higher operating expenses. Adjusted profit before tax of $18.3bn was 4% higher than for 9M17, excluding the effects of foreign currency translation differences and movements in significant items.

• Reported revenue for 9M18 of $41.1bn was 5% higher, notably driven by a rise in deposit revenue across our global businesses, primarily in Asia, as we benefited from wider margins and grew our balances. These increases were partly offset by lower revenue in Corporate Centre. Adjusted revenue of $41.4bn was 4% higher, excluding the effects of foreign currency translation differences and movements in significant items.

• Reported operating expenses for 9M18 of $25.5bn were 2% higher, primarily reflecting inv

Rio Tinto Simandou Update

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Rio Tinto (LON:RIO) announced that the non-binding heads of agreement, originally signed on 28 October 2016, for Chinalco to acquire Rio Tinto’s entire interest in the Simandou iron ore project in Guinea has lapsed. Rio Tinto and Chinalco, who respectively own 45.05 per cent and 39.95 per cent of Simandou, will continue to work with the Government of Guinea to explore other options to realise value from the world-class Simandou iron ore deposit. The Government of Guinea owns a 15 per cent stake in the project.