Smiths confident as margin focus delivers

first_img Show Comments ▼ UK TECHNOLOGY firm Smiths Group said cost cuts and a focus on margins should help it deliver a good performance in the first half, as delays on government orders crimped sales for airport security devices.Technology group Smiths, whose products range from bomb detectors to medical devices and fuel hoses, said it had seen underlying sales growth in the three months to 30 October, supported by improvements at its Medical division.Sales at Smiths Detection, which makes X-ray scanners used at airports and advanced explosion scanners, lagged those of a year ago due to a delay in large orders from government agencies, as lawmakers debate changes to military spending.“Sales in the period are behind last year as some large orders from various government agencies have been delayed,” the company said in a statement yesterday. Governments are scrambling to tighten aviation security after bombs were found in air cargo bound for the United States two weeks ago and Smiths said it was well-placed to support such changes, but expected further delays to orders as reforms are finalised. Tags: NULL by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBlood Pressure Solution4 Worst Blood Pressure MedsBlood Pressure Solutionmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteBlood Pressure For LifeWhy Doctors May No Longer Prescribe Blood Pressure MedsBlood Pressure For LifeLiver Health1 Bite of This Melts Belly And Arm Fat (Take Before Bed)Liver Healththedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.com whatsapp Share KCS-content center_img whatsapp Smiths confident as margin focus delivers Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap Tuesday 16 November 2010 8:40 pmlast_img read more

GC updates society lottery prize limits, transparency rules

first_imgAddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Regions: UK & Ireland CSR GC updates society lottery prize limits, transparency rules The British Gambling Commission has updated the regulations surrounding society lotteries, raising prize limits but also requiring a greater deal of transparency regarding spending of proceeds. Topics: Legal & compliance Lottery Social responsibility CSR Tags: Charitable Gaming Subscribe to the iGaming newsletter 29th April 2020 | By Daniel O’Boyle The British Gambling Commission has updated the regulations surrounding society lotteries, raising prize limits but also requiring a greater deal of transparency regarding spending of proceeds.The changes follow a consultation by the Commission, that ran from 19 December 2019 to 12 March.“This consultation has strengthened several important aspects of our licence conditions and codes of practice which apply to society lotteries,” Sarah Garnder, executive director at the Gambling Commission, said.In line with changes to the 2005 Gambling Act, announced in July 2019, the maximum amount of money that may be won as a single prize will be raised from £400,000 to £500,000, while the maximum total winnings pool will be raised from £4m to £5m. The maximum combined winnings for a year will be increased from £10m to £50m.The Commission said that some respondents to its consultation felt the change didn’t go far enough, while others felt the increased level of winnings could cannibalise National Lottery revenue.  It added that several respondents suggested a review of the lottery market to measure any impact if changes are implemented.The new limits will be applied on a pro-rata basis for the remainder of the calendar year.New requirements and guidance will be put in place to make it easier for consumers to understand how much revenue from these lotteries is returned to good causes and to which causes it is allocated.Before the purchase of tickets, operators must make available the percentage or amount of the proceeds spent on prizes, costs to promote and run the lottery, and good causes, as well as the total proceeds from all tickets sold.“Where the actual amounts for that type of lottery draw cannot be determined in advance, licensees should consider how best they can provide a reasonable estimate to consumers,” the Commission said. The regulator had previously suggested a more detailed breakdown of expenses before the consultation, but opted to reduce the level of detail required after operators said providing such detail would be unnecessarily costly and would require a level of scrutiny to which other types of operators are not held.In addition, operators will be required to make available to consumers a description of the way in which winners are determined and prizes allocated, the potential prizes available and the likelihood of winning a prize before the purchase of a ticket.Operators must also make available information on how the allocation of grants is determined, including examples of recipients.The Commission said all of this information could be included in marketing communications, advertisements, promotions, the lottery website, ticket documentation or the terms and conditions of the lottery.“It is critical that consumers have information available to them to help make fully informed decisions about whether to participate in lotteries,” Gardner said. “These changes will make sure that consumers haave ccess to that information, and the key areas which they and wider stakeholders told us were important to them.”The Gaming Commission licenses over 490 lotteries, which raised £332m for good causes in the year ending 31 March, 2019. Email Addresslast_img read more