BAT enjoys profit rise despite tough trading conditions February 27, 2014 Tobacco giant British American Tobacco (BAT) has reported a rise in profits before tax of £207m to £5.7bn for the year ended 31 December. The group's revenue was up four per cent at constant rates of exchange while basic earnings per share rose by five per cent to 205.4p. BAT saw a fall in of [...]
British American Tobacco confident of another good year of earnings despite fragile market conditions July 31, 2013 British American Tobacco has said it is confident of another year of good earnings despite persistently fragile economic conditions in Europe as it reported adjusted group profit from operations increased by six per cent at constant rates of exchange (release). While volumes were down 3.4 per cent at 332bn cigarettes, price rises pushed up sales [...]
London Report: British economy in fifth straight growth quarter April 27, 2014 BRITAIN’S economy is expected to show its continued return to form this week, with official data likely to show a fifth consecutive quarter of expansion. Figures due from the Office for National Statistics tomorrow are expected to reveal the economy grew by 0.8 per cent in the first quarter, despite worries that February flooding would [...]
The week in brief April 6, 2014 Advertising Week Europe draws to a close This year’s conference came to an end last week, after a roster of the industry’s best-known names gathered to discuss themes including native advertising, programmatic buying and the importance of young talent. Among the stars in attendence were Idris Elba, James Corden, and Sainsbury’s outgoing chief executive Justin [...]
Land Secs sells Docklands block February 17, 2014 Land Securities has sold a chunk of its 470,000 square feet Harbour Exchange development in London’s Docklands for £37m. Property fund manager Clearbell and Morgan Stanley AIP Real Estate announced yesterday that they have bought 3 and 4-5 Harbour Exchange, a group of office buildings just south of Canary Wharf, which are home to a [...]
Best of the Brokers for 26 February 2014 February 25, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com BRITISH AMERICAN TOBACCO Barclays analysts have re-iterated support for the tobacco stock, with an overweight rating and target price of 3,800p. “Although we don’t expect a reversal of either headwind in the near term, we see the Tobacco growth and cash return model [...]
Best of the Brokers for 24 February 2014 February 23, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com BRITISH AMERICAN TOBACCO Panmure Gordon tells investors in the tobacco firm to “hold” shares and has nudged its target down to 3,225p ahead of full-year results on Thursday. The broker thinks the pace of black market growth is slowing and the firm can [...]
The man behind BT’s recovery in global business | City A.M. May 12, 2014 WITH all the attention surrounding BT’s push into sport you’d be forgiven for thinking that all the telecoms giant does is home broadband and football matches. But as the telecoms giant’s Global Services boss Luis Alvarez explains, BT’s operations extend to over 170 countries, where it is a market leader in connecting businesses. “We connect [...]
The man behind BT’s recovery in global business May 11, 2014 WITH all the attention surrounding BT’s push into sport you’d be forgiven for thinking that all the telecoms giant does is home broadband and football matches. But as the telecoms giant’s Global Services boss Luis Alvarez explains, BT’s operations extend to over 170 countries, where it is a market leader in connecting businesses. “We connect [...]
What you need to know before the open February 27, 2014 Caution’s in the air this morning as nervousness around the deteriorating situation in Ukraine sees investors risk averse. Markets are, therefore, expected to open lower. US markets stayed around all-time highs last night, although there was some notably treasuries buying. Markets will focus on Janet Yellen’s testimony this afternoon, which’ll shed some light on the [...]