A soft beverage season in the US sees Tate & Lyle profits fall November 7, 2013 Tate & Lyle saw a six per cent drop in pre-tax profits in the first half of this year which, it says, was due to a "soft beverage season in the US". (Release) Operating profit was £176m in the six months to 30 September, down from £186m last year. Profit before tax declined £10m from [...]
London Report: Recovery looks on track in busy reporting week November 3, 2013 SERVICES figures due out this week, plus the latest updates on industrial and manufacturing production, look set to show continued recovery for the British economy. “September’s industrial production figures are likely to show that overall output partially recovered from its surprise 1.1 per cent monthly fall in August,” said Martin Beck, of Capital Economics. “Manufacturing [...]
Best of the Brokers for 25 October 2013 October 24, 2013 To appear in Best of the Brokers, email your research to notes@cityam.com TATE & LYLE Panmure Gordon has switched its recommendation from ‘sell’ to ‘hold’ for the famous British producer of sweeteners and starches, yet the target price remains at 750p. The discount to its peer group has widened to around nine per cent from [...]
Best of the Brokers for 09 October 2013 October 8, 2013 To appear in Best of the Brokers, email your research to notes@cityam.com SIGNET Analysts at Deutsche Bank have upgraded the jeweller to a “buy” and increased its target price from $73 to $85. The bank said sound cash generation should provide scope for further share buybacks and dividends. TAYLOR WIMPEY Panmure Gordon has upgraded the housebuilder [...]
Best of the Brokers for 08 October 2013 October 7, 2013 To appear in Best of the Brokers, email your research to notes@cityam.com HOCHSCHILD UBS has upgraded the mining firm from “neutral” to “buy” and lowered its target price on the stock from 225p to 220p after its acquisition of a minority interest in the Pallancata mine and the Inmaculada project, the broker says it is [...]
Tate and Lyle says profits down after slow summer in US October 4, 2013 Tate and Lyle has announced its expectation that its operating profit for the first half of 2013 will be slightly down on last year after a cold spring and slow start to the summer affecting the US beverage sector. (Release) Overall, however, the company anticipates delivering another year of profitable growth. When it came to [...]
London Report: UK data to show the economy in healthier state September 29, 2013 EXPECTED improvements in the purchasing managers’ index (PMI) data for manufacturing, construction and services this week should all point to further signs of the UK’s economic growth. “The purchasing managers’ surveys are expected to show further robust growth in September across the services, manufacturing and construction sectors which would bode well for hopes that GDP [...]
Best of the Brokers for 10 September 2013 September 9, 2013 CSR Liberum has upgraded the chipmaker from “hold” to “buy” with a 550p price target. The broker thinks CSR could beat its earnings forecasts in 2014 thanks to a raft of new products, and points to a 20 per cent fall in the share price since July as a good buying opportunity. TATE & LYLE [...]
City Moves for 23 August 2013 | Who’s switching jobs August 22, 2013 Kleinwort Benson The private banking and wealth management firm has appointed Gemma Woodward as head of charities. She has previously held various roles at Newton’s Investment Management, Lloyds Private Banking, and Henderson Global Investors Private Asset Management. Deloitte Mark Stephenson has joined the business advisory firm as head of its UK and Switzerland manufacturing industry practice. [...]
Tate & Lyle on track despite cold US spring hitting drinks market July 24, 2013 TATE & Lyle yesterday said an unusually cold spring in the US had hit first-quarter volumes but did not prompt it to alter full-year profit forecasts. The sweetener-maker, whose brands include Splenda and Tasteva, said that the expected cold start to the US summer resulted in lower volumes within the beverage sector, which mainly affected [...]