Best of the Brokers for 15 October 2013 October 14, 2013 To appear in Best of the Brokers, email your research to notes@cityam.com TRAVIS PERKINS Bank of America Merrill Lynch raised its target price from 1460p to 1900p and changed its rating from “underperform” to “buy” in a double upgrade that sent shares up nearly five per cent yesterday. The broker believes the builders’ merchant is [...]
New acting finance chief for Michael Page as recruiter anticipates challenging fourth quarter October 14, 2013 British-based recruitment company Michael Page has announced the appointment of a new acting chief financial officer, as it reports year-on-year profit up 0.4 per cent. However, the company expects a challenging fourth quarter. Chief executive officer Steve Ingham says the firm has seen "another robust performance in the third quarter, against a backdrop of challenging, [...]
Sausage maker weighs link-up with Peperami October 13, 2013 KERRY Group, owner of Wall’s sausages, is in the running to gobble up iconic meaty snack Peperami after owner Unilever put the brand on the block. Peperami, famed for its “it’s a bit of an animal” slogan, was launched in 1982 in the UK and is sold in Germany as BiFi.
Nestle looks to sell Jenny Craig after announcing brands overhaul October 9, 2013 According to sources, Nestle is looking to sell Jenny Craig – its celebrity-endorsed weight loss company – and is speaking to a small number of potential buyers, reports Reuters. The sources, said Reuters, disclosed yesterday that Nestle was working with Goldman Sachs on the sale process. Last week, Nestle hinted at the closeness of a [...]
AG Barr hires its first female non-executive October 8, 2013 SCOTTISH soft drinks company AG Barr has appointed its first female non-executive to its all-male board. The Irn-Bru maker announced yesterday that Pam Powell, a UK-based American who also sits on the board of Premier Foods, will join the group on 1 November. The 50-year-old spent nine years at brewing giant SAB Miller as director [...]
Women land a quarter of new directorships October 6, 2013 WOMEN are taking a quarter of new appointments to the boards of FTSE 100 companies, according to figures released today by a group pushing for greater equality at the top of public companies. All but six firms at the top level of British business now have a women on their board. Campaigners said business is [...]
CITY MOVES | WHO’S SWITCHING JOBS October 4, 2013 Avanti Communications Group Paul Walsh, chief executive of Diageo, has joined the board of satellite data company Avanti Communications as a non-executive director. He is also a non-executive director of FedEx Corporation and Unilever. Prior to joining Diageo, Walsh held financial and commercial positions with InterContinental Hotels and in the GrandMet food business, becoming CEO [...]
London Report: BP’s court win sees FTSE defy US shutdown October 3, 2013 THE FTSE 100 rose yesterday, boosted by heavyweight BP which won a rare legal battle related to its oil spill in the Gulf of Mexico, but ongoing US government shutdown uncertainty sapped momentum. Energy firm BP – the UK’s fifth biggest company by market capitalisation – rose 1.1 per cent after it won a legal [...]
Unilever drags down peers as Nestle hints at portfolio shake-up October 1, 2013 NESTLE hinted yesterday it was getting closer to disposing of bad brands and shaking up its portfolio, as shares suffered in the wake of a profit warning from consumer peer Unilever. Unilever warned late on Monday of a sharper slowdown in its emerging markets, sending its shares tumbling as much as four per cent in [...]
Bottom Line: This is just the start of the dreaded slowdown October 1, 2013 IT DOESN’T seem to matter what Unilever is selling. From Dove deodorant to PG Tips and Pot Noodles, the group’s emerging markets customers aren’t buying. Except that’s not strictly true. Monday’s profits warning from the consumer goods group didn’t say that sales are set to have fallen in the third quarter, just that growth will [...]