Ian Pollard – Severn Trent Abandons English

Severn Trent SVT updates that for the period from the 1st October to the 7th February it has abandoned the use of English and will;

• hit AMP6 outperformance cap
• earn at least 50m in customer ODI out performance payments across waste and water
• work hard on SIM scores
• have sector leading scores in CCW’s annual survey
• create strong out performance opportunities
• underpin the future growth in RCV which customers expect

And to make sure that nobody will understand a word of this complete and utter rubbish

• AMP7 Ofwat has announced its PR19 Final Methodology
• Rumours abound that STSRs  are to be held for senior executives (secret training sessions in rubbish)

Smurfitt Kappa group SKG After revenue rises of 5% for  the full year to the 31st December and 7% for quarter 4 , EBITDA for the year rose to record levels at 1,240,000 Euro. Despite that full year profit before tax fell by 12% and basic earnings per share by 6%. Fourth quarter figures were much better with basic earnings per share up by 19% and profit before tax by 4%. Results in the Americas came in below expectations after being impacted by bad weather and increased fibre costs. Europe produced a strong fourth quarter performance with high levels of demand.  2018 has so far shown a continuation of the good levels of demand in Europe and signs of improvement in the Americas.

Johnson Matthey JMAT will receive a £30m one off non cash benefit from the lowering of US Corporation Tax rates. But it will take a one off £50m. hit from the no fault settlement of a law suit in which it looks  like the lawyers came out the winners. The 50m will be excluded from current years profits.

Redrow RDW is increasing its interim dividend by 50% as it continues to make hay whilst the housebuilding boom continues apace.Revenue for the six months to the 31st December rose by 20%, profit before tax by26% and earnings per share by 27%. The interim dividend goes up from 6p per share to 9p. The sales market is described robust, the second half started with a record order book. The increase in the average selling price appears to have become a closely gaurded secret.

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