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The firm announced that chief executive David Forde (pictured) will step down and be replaced by finance boss Patrick McMahon with immediate effect.
London stocks were still in the black by midday on Friday amid hopes a deal will be reached to avert a US debt default.
Shares in C&C Group tumbled after the Ireland drinks business disclosed €25m in costs linked to the implementation of distribution software.
LONDON BRIEFING: Smiths Group raises guidance after strong nine months | Financial News
The company also expects a €25m charge following "significant challenges" in implementing a system upgrade in its UK Matthew Clark and Bibendum drinks business