ConvaTec Group PLC (CTEC.L)
23 Nov 2017
Mon, Oct 16 2017
* GKN suffers broker downgrades (Adds detail, updates prices at close)
LONDON, Oct 16 Medical device firm Convatec was bruised in early deals after a profit warning, but failed to drag down the broader FTSE share index as mining companies cemented British stocks.
* Supply issues to hurt full-year revenue growth, margins (Adds share movement, analyst and company comments)
Aug 3 Medical technology company ConvaTec on Thursday posted lower first-half profit that fell short of expectations as expenses rose, sending its shares down more than 10 percent.
Aug 3 British medical technology company ConvaTec on Thursday reported a 7.4 percent fall in operating profit for the first half of the year, as increased expenses offset higher sales and margins.
* MARGIN IMPROVEMENT PROGRAMME ON TRACK FOR FULL YEAR GUIDANCE - 40 BASIS POINTS (BPS) PERFORMANCE BENEFIT IN H1
* Has agreed to buy Woodbury Holdings for enterprise value of 120.5 million pounds
* Nordic Capital, Avista sold aggregate of 250 million ordinary shares in Convatec at 322 pence per share, raising gross proceeds of £805 million
* Bookrunner says deal upsized to 250 million shares, orders not at 322p risk missing
* Bookrunner says books covered, pricing guidance to come in ConvaTec accelerated bookbuild deal Further company coverage: (Bengaluru Newsroom)