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I've tried to resist weegification for 47 years now but I'm starting to get a taste for the Bru. Next ill stop being suspicious of anyone North or South of the Forth so ah will.
A.G.Barr PLC set a new 52-week high during today's trading session when it reached 534.50. Over this period, the share price is up 25.40%.
Barclays Capital upgrades A G Barr from equal weight to overweight, target price raised from 383.3p to 510p.
The firm behind Irn-Bru has been named as the latest sponsor of the Glasgow 2014 Commonwealth Games. Soft drinks company AG Barr will support the event through its brands, including Irn-Bru and Strathmore spring water. It will supply water to the athletes' village, with other drinks being made available across games venues. AG Barr is one of the UK's largest soft drinks producers, and has links with Glasgow going back more than a century. David Grevemberg, Glasgow 2014 chief executive, said: "I am delighted to welcome such a well-known Scottish brand into the Glasgow 2014 family of supporters". He added: "The company has a strong track record of supporting sport at all levels from grassroots to elite and we look forward to working with them." Roger White, AG Barr chief executive, said: "Glasgow 2014 is massively exciting, whether you're taking part, volunteering or watching. "The games will bring something extraordinary to a very special city, and we are delighted to play our part in that." The 20th Commonwealth Games will be held in Glasgow from 23 July to 3 August 2014.
The two firms behind Robinsons Barley Water and Scotland’s Irn-Bru will today say the Takeover Panel has extended the deadline for them to hatch their £1.4bn merger, the Daily Mail can reveal Glasgow-based AG Barr and Britvic requested more time for their accountants to authenticate the savings the tie-up would generate, and also agree on a name for the newly-combined firm. The regulator had given them until 5pm today to clinch a deal but it is now understood to have extended this by three weeks. It appears that while the pair had already managed to agree the make-up of the new board ahead of confirming they were in merger talks, they have not found consensus on a name. The two options being considered are Barr Britvic and Britvic Barr however neither party is willing to give ground.
Current Trading and Outlook Our financial performance in the face of the combination of a cautious and increasingly value focussed consumer and the very disappointing early summer weather clearly demonstrates the underlying strength of our brands and operating model. We expect trading to remain challenging over the coming months and we have put in place cost control measures and a robust trading programme for the balance of our financial year. Assuming there is no further deterioration in the market, we remain confident about our prospects. Discussions are ongoing following the announcement on 5 September regarding the potential all share merger of A.G. BARR p.l.c. and Britvic plc. A further announcement will be made as and when appropriate.
Commenting on the results, Chief Executive Roger White said: "We are particularly pleased with our financial performance given the ongoing challenging trading environment. We have continued to outperform, delivering further consistent growth in volume and value ahead of a market which has seen volume declines in the period. In addition we have maintained investment in the long term equity of all of our core brands. We are excited by the growth possibilities associated with the development of our new site at Milton Keynes which is now under construction." "Whilst we remain cautious regarding the second half, we have strong plans in place and are pleased to report sales in the first 7 weeks of the second half have shown double digit growth."
Key Points · Total turnover increased by 4.9% to £130.0m (2011: £124.0m) · Pre exceptional profit on ordinary activities before tax was £14.9m (2011: £16.2m) · Profit before tax £0.3m behind the prior year on a constant currency basis · Basic earnings per share were 10.14p (2011:10.81p) · Return on capital employed remained strong at 21.1%, on a 12 month basis · Net debt reduced to £11.4m; annualised net debt/EBITDA ratio is below 0.3 times · Core brands IRN-BRU, Barr and Rubicon maintained strong market positions and grew market share · The planned new production and distribution site at Milton Keynes is now under construction · Interim dividend of 2.616p per share (2011: 2.433p), an increase of 7.5% on the prior year · Following the announcement of the potential all share merger with Britvic plc on 5 September, it is confirmed that talks are ongoing
http://www.investegate.co.uk/Article.aspx?id=201209240700069141M
Societie Generale upgrades Barr (A G) from sell to hold, target price increased from 370p to 444p.
Colleyboy was right, I only got the company wrong, it still could have been Pepsico though.
BRITVIC ARE COMING
Olympic Games London 2012 - Commonwealth Games Glasgow 2014. A local company now, based about 14 miles from Glasgow, their previous factory was sited less than a mile from where the Commonwealth Games will take place in 2014. You can bet that the management will be conscious of that and will take advantage to increase their international exposure. I would be surprised if they will not be a substantial sponsor of the Commonwealth Games. Barr's can line at Cumbernauld is capable of producing 690 million cans per year!
Pepsico are looking at this company. Remember you heard it from Colly Boy when the news finally breaks.
Outlook Despite the significant impact of unprecedented weather on the market in the early summer, we have delivered solid growth as our brands have responded extremely positively to continued development and investment. Assuming there will be no further deterioration in the market place we anticipate further growth and margin improvements in the second half. We plan to maintain our long term agenda of investing in brands and developing the infrastructure and organisation capable of delivering future growth.
CONT Margins in the period have been impacted by increases to cost of goods, increased brand investment and adverse changes to our sales mix at brand, pack and channel level and as a result we expect profits in the first six months to be slightly below the prior year. We anticipate that margins will improve in the second half but that it is unlikely to offset the margin shortfalls of the first half. Our operational focus has been to deliver a strong level of customer service across our business at the same time as we develop the detailed execution plans for our investment in the Crossley site, at Milton Keynes. We have now completed all of the development actions for Crossley and having obtained detailed planning approval we have now committed to the full project, including a new credit facility through HSBC to support the development. We anticipate, as previously guided, a full project budget of c.£41m and a production commencement date for the site in the third quarter of 2013. Over the period our balance sheet remains strong and our capital investment plans are in line with our expectations.
Pre close trading update A.G. BARR p.l.c., the soft drinks group, will announce its interim financial results for the six months to 28 July on 24 September 2012. As has been widely reported during the course of 2012 the total soft drinks market has seen some marked changes in overall performance, in particular from March onwards when the market was significantly impacted by adverse weather. For the 26 weeks to 23 June 2012, Nielsen reported the total soft drinks market volumes down 1% whilst value was 2% ahead. Within this overall performance, carbonates volume was flat with stills declining by 3%. The carbonates category was once more driven strongly by the energy segment, which grew in value by 11% over the time frame. In recent weeks the weather has been extremely poor, with record levels of rainfall and we expect this will have had a further negative impact on market performance when the data is available for the remainder of June and July. During these difficult trading months, A.G. Barr has continued to grow strongly ahead of the market and we anticipate sales revenue of c.£130m, an increase of over 4.5% on the prior year. Despite the difficult operating conditions, we have maintained our strategy of investing in brand equity and extending distribution. Our core brands continue to respond well to this consistent long term approach.
http://www.investegate.co.uk/Article.aspx?id=201207270700066408I
This great little company is Scotlands best kept secret, it's only a matter of time before one of the global players puts in a bid.
Day range 418.00 - 428.60
101k shares traded today...just at the bell Bid - Offer 426.00 - 427.00 closed @422......small drop tomorrow first thing, and then rises to > 426(might see 428 during the day if it follows trend)
Bid - Offer 424.20 - 425.00 Closing the gap........a buy underway?
Day range 418.30 - 423.90
2 buys this am, and the SP tanked !!!!????? 6-Jul-1208:06:00423.9071Buy* 414.30423.90300. 6-Jul-1208:06:00423.90424Buy* 414.00424.001,797
SPLIT OF 2009 (Previous post of 15 Mar '12) When you think of the 2 for one split that took place in Sept. 09....remove that and the SP would be double.....2428 !!!!!...............IRN BRU.....liquid gold !