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The acquisition has compelling strategic and financial rationale for Smith & Nephew: · Creates a strong position in bioactives, the fastest growing area of advanced wound management · Brings a complementary range of bioactive debridement, dermal repair and regeneration products generating around $190 million 2012 revenues growing at a double digit percentage rate, driven by SANTYL ointment · Adds an established R&D capability in next-generation bioactive therapies including an exciting product pipeline with lead product (HP802-247) entering Phase 3 trials · Integration into our Advanced Wound Management ("AWM") division ‐ doubles AWM's US sales, strengthening commercial scale and capabilities ‐ strong cultural fit of innovation and customer focus ‐ opportunity for synergies over time · Expected to exceed Smith & Nephew's cost of capital in the third full year following acquisition; broadly EPSA neutral in 2013 and accretive thereafter

Commenting, Olivier Bohuon, Chief Executive Officer of Smith & Nephew, said: "The acquisition of Healthpoint is an important step for Smith & Nephew. Strategically, it reinforces our Advanced Wound Management division by giving us a strong position in the fast growing area of bioactive wound care treatment. It brings material revenues from a fast growing product range, an attractive pipeline, and commercial and R&D capabilities upon which we will build. The combination benefits our customers, offering them a truly unique wound care business - having leadership positions across exudate and infection management, negative pressure and bioactives."

Smith & Nephew to acquire US bioactive wound care business for $782 million 28 November 2012 Smith & Nephew plc (LSE: SN, NYSE: SNN), the global medical technology business, today announces that it is strengthening its global position in advanced wound care by entering into an agreement through its subsidiaries to acquire substantially all the assets of Healthpoint Biotherapeutics ("Healthpoint"), a leader in bioactive debridement, dermal repair and regeneration wound care treatments, for $782 million in cash.

http://www.investegate.co.uk/smith-38-nephew-plc-(sn.)/rns/acquisition/201211280700151779S/

Derek Pitcher, Managing Director, Europe & MEAI, said: "We are very pleased to be taking the next step in developing the Group's global retail capability. Sweett Group is renowned for its work in the retail sector, which represents some 15% of our total revenue. Through our alliance with Greeby, we will be able to support major US developers and funding institutions with their expansion across Europe, the Middle East and Asia. The alliance also strengthens our service offering within the high-end retail market, where we are already working with luxury brands such as Jimmy Choo, Shanghai Tang and Selfridges across Europe and Asia." Gordon T. Greeby, President of The Greeby Companies, Inc., said: "The alliance announced today will allow both parties to mutually develop their retail client relationships within the United States, as well as globally. Our commitment to excellence will strengthen this partnership and the services that we provide."

Sweett Group signs retail-focused alliance agreement with North American partner Sweett Group is pleased to announce that it has signed an alliance agreement with The Greeby Companies, Inc. ("Greeby"), an Illinois-based retail development consultancy. The alliance agreement provides the basis for the two consultancies to jointly market and provide retail-focused cost, project, tenant coordination and development management services across their respective operating regions.

http://www.investegate.co.uk/sweett-group-(csg)/rns/sweett-signs-north-american-alliance-agreement/201211280700191491S/

Outlook Volumes have been flat over the two quarters that made up the first half year. Since the half year end, this pattern seems to be continuing. However, the pipeline of new business which we have built up over the last two years will have an increasing impact on future revenues. That being the case, we would anticipate some improvement to trading, even if modest, in the second half year. Over the medium to longer term, we expect to see revenue growth resuming as this new business flows through. We remain confident about the direction and future growth of the Group.

CONT Profit before tax and earnings per share have both benefitted from: · Lower interest costs as our debt has continued to decrease, and · Realised profits on foreign currency debt that has been converted into sterling during the half year. Earnings per share has benefitted from a lower tax rate, which arises from the R&D tax credit and from the reduction in the rate of corporation tax. This should be sustainable going forward, barring changes in UK government policy. It is worth noting that over the last four years our first six months' results show that underlying earnings per share have achieved at a compound annual growth rate of 10% per annum. Operating cash flow has been good with £2.0m being generated for the six month period - this represents a 96% conversion from EBITDA. Working capital has been carefully managed and capital expenditure has been unusually low, mainly as key projects have been subject to minor technical delays. We would expect capital expenditure to return to normal over the full year period. Net debt has been reduced to £8.6m at the end of the half year. Over the last three years we have reduced net debt by nearly £10m, primarily from operational cash flow. Net debt is now at a level which we consider satisfactory given the cash flow characteristics of the business. The Company is pleased to announce that it intends to pay an interim dividend of 0.66p to all shareholders on 28 December 2012 in respect of the period ended 30 September 2012. The record date for the dividend is 7 December 2012 and the associated ex-dividend date is 5 December 2012.

Financial Review These interim results reflect consistent performance over the last 18 months with good profitability and strong cash flow. Disappointingly, there has been no revenue growth as the slowdown in Europe has counteracted new business gains made right across the Group. Compared to the same period last year, on an underlying basis the Group has: · Increased earnings per share from 5.3p to 5.5p; · Reduced net debt by £2.6m to £8.6m; · Seen a reduction in sales from £16.3m to £15.7m; and · Seen profit before tax reduce from £2.0m to £1.8m. Sales have reduced compared to the same period last year specifically due to weak European demand in our Industrial Products division, where sales were down 30%. In addition, we have experienced lower average prices for certain commodity raw materials and have passed these through in lower sales prices to customers. Ignoring lower sales in mainland Europe and the impact of lower raw material prices, sales were up by 7% as new business wins more than made up for slack demand. Operating profit margin has reduced to 12% from the 14% achieved in H1 11-12. There are two reasons for this - firstly, a worse US dollar/sterling exchange rate in H1 12-13 than H1 11-12 has prevailed, and secondly, we realised a high proportion of revenue from engineering services associated with recently won new projects - this type of revenue is generally at a lower margin than product sales. However, a high level of engineering services revenue also indicates a strong pipeline of product sales to flow through in the future.

Commenting on these results, Faisal Rahmatallah, Executive Chairman, said: "Over the first half of the financial year, we have improved earnings per share, announced a doubling of the interim dividend and reduced net debt by another £2.6m. Ignoring mainland Europe, where sales are down due to the recession there, the Group continues to perform well and new business wins continue. The Board expects the Company trade broadly in line with expectations for the rest of the financial year."

Operational highlights · Improving earnings per share - 4% up on H1 11-12, 15% up on H2 11-12 · 7% year-on-year revenue growth outside Europe - overall revenues marginally down · New business wins continue - seven new key accounts won during first half year · Significant technical breakthroughs on key product development projects · Major investment approved for new high strength industrial films

http://www.investegate.co.uk/m.-p.-evans-group-(mpe)/rns/acquisition-of-new-land-in-indonesia/201211270700040289S/

Valuation: Fair rating in current environment Our projected 6% pa EPS growth rate over the next two years recognises continuing low global economic growth prospects, although these estimates do not include any future acquisitions that the group has the resources to complete. A prospective 9.6x P/E would seem to be a fairly undemanding rating for a leading player in transition to the fast growing digital communications market at a time of low global economic growth.

http://www.edisoninvestmentresearch.co.uk/researchreports/NFCOutlook271112.pdf

The market seems to reckon that these decent figures are already built into th eSP from recent rise from October

Commenting on the results, Chairman, Christopher Winn, said: "Whilst UK economic conditions have remained challenging, Sanderson has continued to make good progress in what has been a year of transition following the disposal of Sanderson RBS Limited ('Sanderson RBS'). Sanderson received a cash consideration of £11.75 million for Sanderson RBS and the proceeds enabled the Group to repay all of its bank debt. New products and services have further strengthened the Group's competitive market position and a focus on active and expanding market sectors, such as online sales and ecommerce, has provided improved growth and development prospects. The Group continues to generate cash and after the repayment of all bank debt and the settlement of interest rate hedging arrangements relating to the bank loan, the net cash balance at 30 September 2012 was £4.07 million, which compares with debt of £6.72 million at 30 September 2011, transforming the balance sheet."

On current trading and prospects, Mr Winn, added: "The Sanderson Board continues to adopt a cautious approach in the face of continuing uncertain general economic conditions, but the Board does have a good level of confidence that the Group will make further progress in the coming year ending 30 September 2013. The strong balance sheet and improved market position of the Group, together with a good order book should enable Sanderson to achieve its full year targets."

Highlights - Operational § Sanderson now debt free following disposal of Sanderson RBS in January § Good trading momentum and strong order book continued in second-half § 40% increase in order book in respect of continuing operations at year end to £1.89m (2011: £1.35m) § Gross margins further improved to 83.6% (2011: 82.3%) reflecting delivery of more proprietary software and other 'owned' services § Pre-contracted recurring revenues from continuing operations of £7.7m accounted for 57% of total revenues (2011: £7.7m, 55% of total revenues) § 23% increase in multi-channel retail division operating profit to £1.1m (2011: £0.9m) § Manufacturing division sustained operating profit performance at £0.8m (2011: £0.8m)

Highlights - Financial (comparative figures restated to reflect Sanderson RBS disposal) § Revenues from continuing operations of £13.37m (2011: £14.06m) § 12% increase in operating profit from continuing operations, amounting to £1.91m (2011: £1.71m) § Basic earnings per share of 5.5p (2011: 1.9p) § Basic earnings per share from continuing operations of 3.0p (2011: 1.1p) § Net cash at year-end increased to £4.07m (2011: net debt of £6.72m) § Proposed final dividend per share of 0.7p per share (2011: 0.45p) § 60% increase in total dividend for year at 1.2p per share (2011: 0.75p)