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Real-Time news about C.I.Traders (London Stock Exchange): 0 recent articles
|dumbolena: Well it seems memories are short lived following the fiasco of 'New Safeway' purchase for well over the top at a premium based on a turnover before the boycott of local shoppers in the CI. The asset stripping of property from other parts of the group has kept this company sane otherwise it could have have been embarassing. TS might have a good track record in business but surely scored an own goal with the purchase from Morrison's. The share price may be recovering but perhaps could be higher without the takeover possibility and bar the abovementioned imo.|
|davebowler: Results out ..look O.K. NAV not far from share price,and it excludes property revaluation.|
|grupo guitarlumber: BAT H1 profits rise 15 pct; to buy out stake in Chilean tobacco group UPDATE
(Adds further detail)
LONDON (AFX) - British American Tobacco PLC unveiled a 15 pct rise in
first-half profits, slightly better than expected, alongside plans to buy out
the remaining stake in Chile's biggest cigarette maker Chiletabacos SA.
The maker of Lucky Strike and Dunhill brands also confirmed that it has no
current plans to purchase the remaining stake in Brazilian tobacco group Souza
Cruz, denying recent press reports.
The world's second-largest cigarette maker reported underlying operating
profit, after one-time items and excluding changes to the group's structure last
year, of 1.39 bln stg, compared with 1.21 bln in the same period last year.
Adjusted earnings per share climbed 20 pct to 49.11 pence.
According to a poll of six analysts, adjusted earnings were seen at 46.3
pence, while operating profits were expected to jump to 1.36 bln.
The company hiked its interim dividend 12 pct to 15.7 pence.
Like-for-like revenues rose 10 pct to 4.81 bln stg.
"The group has again demonstrated its ability to generate good revenue
growth, whilst achieving higher operating profit in all regions," chairman Jan
du Plessis said in a statement.
"The results for the first six months have, however, been flattered by
significant foreign exchange gains, which are unlikely to continue, as well as
by the timing of shipments in some major markets, which will inevitably reverse
during the third quarter."
Without the favourable currency tailwind, operating profits grew 9 pct and
revenues advanced 6 pct.
BAT does not give explicit guidance, but it has said it is targeting
medium-term "high single digit" EPS growth.
In volume terms on a like-for-like basis growth was 3 pct with the four
"global drive brands" -- Dunhill, Kent, Lucky Strike and Pall Mall -- achieving
a 20 pct increase. The company sold 366 bln cigarettes in the period.
BAT said it intends to make an offer to buy the 29.63 pct stake in
Chiletabacos it does not already own for the equivalent of around 104 mln stg,
funded from existing resources. The offer represents a 33 pct premium to the
company's closing share price yesterday.
The group expects the move to be earnings per share enhancing, be cash
accretive and simplify the local capital structure.
Recent reports claimed that BAT was going to buy the remaining 25 pct stake
in Brazil's biggest cigarette maker Souza Cruz. The company said this morning
that it has, from time to time, analysed the possibility of making a public
offer, but that the move is not currently on the horizon.
Shares in BAT closed at 1,428 pence Wednesday. The stock has advanced almost
10 pct this year.
|dumbolena: We have arrived at the levels where the share price appears to be well under net asset value. Question is how they manage their way out of the debt mountain. Am starting to get interested but will wait a litte more. I may invest a smaller sum initially on any further weakness. Good dividend yield if it can be maintained!|
|dumbolena: It's not as if I didn't warn you. If it wasn't for the questionable out the blue bid approach then the share price may well have headed towards the late 60's. CIT might be playing down the debt but more of this and I wonder when the panic button will be hit? After all there is a lot of money at stake for the lenders who must be a little more anxious now. Those of you still holding will hope the property side continues to bail out CIT but for how long can this continue?|
|dumbolena: Very interesting...
Report also says 'thought likely to be forced to put out a profits warning', hence my comments about waiting for the share price to fall. What I could not forsee was a potential take-over bid. The present share price appears to be at around net asset value so the bid is not at that much of a premium. Problem is if this takeover is confirmed tomorrow then I might just have missed the boat.|
|dumbolena: The Waterfront will be scaled down. Developers always try to get get away with the biggest and most profitable plans straight off but the Island Development Committee will trash that. News of another supermarket opening, possibly of French origin after a new freight service to Normandy will start soon, and this will hurt further. CIT are talking up T/O then? About time they improved their PR started. I am not surprised it has risen after they got off to such a bad start. Safeway in Jersey pre CIT had the highest T/O per sq ft of ALL their shops. I bet it has not topped this and if I am right then the price they paid was too much as the valuation was based on the T/O at the time of the takeover. We are going round in circles CT, and I think I am closer to 65p to your 1 pound share price target!|
|dumbolena: CT, you have no idea have you. There are other suppliers/importers. Co-op, Spar, Randalls, Tipsy Toad Breweries to name just a few. Co-op/Spar import their own dough. New Safeway? It will take time to heal the bad P.R. and when you pay so much for a store based on its high turnover trading record only to suffer boycotts then in the short term this will hurt the profitability of the deal. Despite TS sweeping in ££millions the share price has not moved much. Short term will show there will be an opportunity to get in here at lower levels.
Let me put it to you simply:
THE SHARE PRICE WAS, AFTER ALL, IN THE MID 60p's IN FEB AND MARCH!!|
|dumbolena: CT; Market sentiment is with me - despite TS 'sweeping' in millions of pounds this share price is drifting lower now. Idle assets can't be seen as 'added value' whilst they remain unoccupied and falling into disrepair. The 'added value' can only be determined on disposal if they sell more than their booked value.
How can you claim that I'm out of touch when you have posted a bizarre £1 price target on 27 May?|
|dumbolena: It a good job they didn't pay a special divi when the share price hit lows of 64p twice earlier this year then!! Price of shares typically move up in advance of an imminent hefty dividend payment. Wait and see .........|
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