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DS SMITH PLC (SMDS.LN),a recycled packaging firm, said Tuesday
its EUR1.7 billion acquisition of the packaging operations of
Swedish paper maker SCA AB (SCA-B.SK) will help it bring in more
contracts from big consumer products companies through an increased
presence in a number of key European markets.
Speaking on a conference call, Chief Executive Miles Roberts
said the deal gives DS Smith greater access to Germany, the
Netherlands, Switzerland and the Nordic countries, as well as
delivering cost savings of around EUR75 million a year by the third
year after completion.
At 1523 GMT, shares +9 pence, or 4.6%, at 212.9 pence.
TAYLOR WIMPEY PLC (TW.LN), the U.K. homebuilder, said its
full-year 2011 operating profit would be significantly ahead of
2010, reflecting increased margins and an improving return on
capital, while adding that the housing market looked relatively
stable, despite fears of a bleak year for property companies.
"We are selling solidly in all of our key markets, which shows
the underlying stability and strength of the business," Chief
Executive Pete Redfern said on a conference call.
Redfern added that market conditions throughout the year had
been better than anticipated. "If you had to prejudge the market [a
year ago], you'd have been much more bearish than the reality," he
said.
Shares +1 pence, or 3%, at 41.99 pence.
AFREN PLC (AFR.LN), an Africa-focused independent oil company,
said it has made a new oil discovery in its core producing area
offshore southeast Nigeria.
Afren said this discovery, in previously unexplored deeper
zones, opens up further prospecting at similar levels on the main
Okoro field and elsewhere on the block.
Shares +16 pence, or 14.3%, at 131.6 pence.
PREMIER FOODS PLC (PFD.LN) said trading in its key Christmas
period was in line with management's reduced expectations and as a
result full-year earnings will be at lower end of current market
expectations.
The U.K. food company didn't say what market expectations are,
but according to FactSet, analysts expect the company to post a
pretax profit of GBP67.2 million on revenue of GBP2.10 billion.
Shares +1 pence, or 14.2%, at 6.53 pence.
SDL PLC (SDL.LN), a software company, said its full-year revenue
and adjusted pretax profit were likely to be slightly ahead of
market expectations after a number of new product launches and
expansion into new markets helped deliver a strong performance.
"We have demonstrated sound progress in the execution of our
strategy [and have] invested for growth through innovation and
geographic expansion," Executive Chairman Mark Lancaster said in a
statement, adding that new product launches had been completed to
schedule and with desired market impact.
Shares +18 pence, or 2.6%, at 700 pence.
FIRESTONE DIAMONDS PLC (FDI.LN), a southern Africa-focused
diamond miner, said that its chairman and co-founder Philip Kenny
has resigned to pursue other business interests.
Lucio Genovese will replace Kenny as chairman with immediate
effect, the firm said, noting that he has 24 years' experience in
both the merchant and financial sectors of the metals and mining
industry.
Shares flat at 10.6 pence.
FTSE UK Small-Cap +0.5%
AIM +0.1%
-By Iain Packham and Peter Evans, Dow Jones Newswires; +44 (0)
20 7842 9296; uksmallcaps@dowjones.com