Diageo offers bleak outlook August 26, 2010 DIAGEO, the world’s biggest spirits group, expects slightly higher profits growth this year driven by developing markets but a cautious outlook hit its shares after meeting forecasts for annual earnings. The London-based maker of Smirnoff vodka, Johnnie Walker whisky and Guinness beer saw strong growth in Latin America, Africa and Asia, which account for a [...]
US and Europe shun premium brands August 26, 2010 RECEIVED wisdom tells us that hard-pressed customers hit the bottle in times of economic woe. If they’re doing that this time round, they aren’t reaching for Smirnoff Vodka or Johnnie Walker whisky. Save for a 13 per cent rise in net sales at the international division, which accounts for Africa, South America and the Middle [...]
US and Europe shun premium brands August 26, 2010 RECEIVED wisdom tells us that hard-pressed customers hit the bottle in times of economic woe. If they’re doing that this time round, they aren’t reaching for Smirnoff Vodka or Johnnie Walker whisky. Save for a 13 per cent rise in net sales at the international division, which accounts for Africa, South America and the Middle [...]
Popular Euro brands are a gateway to the emerging world August 23, 2010 THE consumer staples sector is usually considered fairly robust. The types of goods it produces – alcohol, food and household products –?tend to be immune to fluctuations in earnings and during periods of economic uncertainty should continue to perform relatively well. But that was not the case during the second quarter. While 71 per cent [...]
Tough markets put the strain on Diageo August 22, 2010 ALCOHOLIC drinks giant Diageo will this week brace itself for an investor backlash over fears for its short term growth outlook. Diageo, the maker of Guinness and Smirnoff vodka, is widely expected to announced figures in line with its expectations, with pre-tax profit climbing from £2.02bn last year to around £2.3bn. But the group’s share [...]
FTSE falls as economic woes hit banks and commoditiesTHE LONDON REPORT August 18, 2010 Banks and commodity stocks pushed Britain’s top shares lower yesterday, with worries over the global economic recovery knocking sentiment and weak volumes exacerbating stock moves as the FTSE 100 remained range-bound. The FTSE 100 closed down 47.68 points, or 0.9 per cent, at 5,302.87 after ending 1.4 per cent higher on Tuesday at 5,350.55 for [...]
BEST OF THE BROKERS August 18, 2010 INMARSAT Bank of America Merrill Lynch cuts its price target for Inmarsat to 700p from 725p warning it has “several structural” issues, against a deteriorating macro environment. Says Harbinger using its option to use Inmarsat’s US spectrum, worth £1.50 a share, is a possible positive, but adds this won’t happen in 2010. AMEC RBS recommends [...]
CITY GOES RURAL IN A PASSION FOR SPEED July 4, 2010 CITY petrol-heads were out in force over the weekend, among 175,000 visitors to the Goodwood Festival of Speed at Goodwood House outside Chichester. Among the business visitors to the F1 racing event were Arnauld Bamberger of Cartier, Audi’s Peter Duffy, BlackRock’s James Charrington, and Alfa Romeo/Fiat Group’s Richard Gadeselli. They turned out to watch top [...]
CITY GOES RURAL IN A PASSION FOR SPEED July 4, 2010 CITY petrol-heads were out in force over the weekend, among 175,000 visitors to the Goodwood Festival of Speed at Goodwood House outside Chichester. Among the business visitors to the F1 racing event were Arnauld Bamberger of Cartier, Audi’s Peter Duffy, BlackRock’s James Charrington, and Alfa Romeo/Fiat Group’s Richard Gadeselli. They turned out to watch top [...]
Diageo boosts pension with liquid gold July 1, 2010 DRINKS group Diageo has agreed a plan with its pension fund which will use up to 2.5m barrels of maturing Scotch whisky to help tackle a deficit of £862m. The defined benefit plan was agreed after a triennial valuation of the Diageo Pension Scheme last April highlighted the deficit and triggered a requirement to agree [...]