Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Company overview Imperial Tobacco Group PLC is the world's fourth largest international tobacco company. It is the second largest UK-based tobacco company by global sales. Imperial Tobacco's corporate headquarters are in Bristol. The Group's core activity is the manufacture, marketing and sale of tobacco and tobacco related products. Imperial is the world leader in roll-your-own, rolling papers and tubes. Group brand names include Lambert & Butler, Davidoff, Rizla, John Player, Navy Cut, Woodbine, Richmond, Golden Virginia, Embassy, Regal, Super Kings and many others. Trading in many markets around the world, the group is market leader in the UK and holds second place in Germany. The company has 56 manufacturing sites and around 38,000 employees. The Company is listed on the London Stock Exchange and is a constituent of the FTSE 100 Index.
Overview We increased tobacco net revenue by three per cent, reflecting the growing contribution from our key strategic brands and our innovation initiatives. Our total tobacco portfolio is performing well with ongoing price/mix improvements within each of our regions. We invest the cash we generate in capital investments supporting our sales growth agenda, buying back shares (£122m since May 2012) and increasing dividends, which we intend to grow ahead of the growth in adjusted earnings per share. We continue to vigorously challenge extreme regulatory proposals such as plain packaging which are not based on credible evidence and will only serve to fuel the illegal trade in tobacco. We will be making a detailed submission to the UK plain packaging consultation and expect the outcome of the court hearing in Australia to be announced later in the year.
Summarising today's announcement Alison Cooper, Chief Executive, said: "This good performance builds on the positive sales momentum we're generating across our total tobacco portfolio in both EU and Non-EU markets. "I'm particularly pleased with the quality of the volume and revenue growth we're achieving with our key strategic brands Davidoff, Gauloises Blondes, West and JPS which now account for almost a third of our total stick equivalent volumes. "Consistently applying our sales growth drivers to enhance sales across our regions is our priority for the remainder of the year. Challenging conditions persist in some markets but we have a strong record of delivering growth in this environment and remain in a good position to continue maximising value for shareholders."
Interim Management Statement for the 9 months ended 30 June 2012 Imperial Tobacco Group PLC confirms that the overall financial position and operational performance of the Group for the financial year to 30 September 2012 is in line with the Board's expectations. The following relates to the nine months to 30 June 2012 unless otherwise stated. Tobacco net revenues exclude the impact of foreign exchange. Portfolio Gains Driving Positive Sales Momentum · Tobacco net revenue up 3 per cent reflecting ongoing strong price/mix; stick equivalent volumes declined 3 per cent · Strong key strategic brand growth continues with net revenues up 13 per cent and combined stick equivalent volumes up 6 per cent · Excellent emerging market growth in Cuban cigars and significant snus gains
http://www.investegate.co.uk/Article.aspx?id=201207240700123310I
Tomorrow. 31.7p per share
CHAIRMAN, IAN NAPIER, SPENDS £28,623 ON SHARES Iain Napier, Chairman, bought 1,213 shares in the company on the 24th May 2012 at a price of 2359.72p. The Director now holds 18,020 shares. Source: http://www.stockmarketwire.com/article/4376883/Director-Deals-Imperial-Tobacco-Group-PLC-IMT.html P.S. Here's a couple of links about SCLP, one of the hottest stocks at the moment: http://www.euroinvestor.com/community/discussionthread.aspx?threadid=252803 http://www.euroinvestor.com/community/discussionthread.aspx?threadid=253089
CEO, ALISON COOPER, TALKS ABOUT THE COMPANY'S FIRST-HALF PROFIT AND OUTLOOK Video link: http://www.businessweek.com/videos/2012-05-01/imperial-tobacco-sees-price-increase-opportunity
PROFIT GAIN MATCHES ANALYSTS' ESTIMATES FOLLOWING PRICE HIKE Imperial Tobacco Group Plc (IMT), Europe’s second-biggest tobacco company, reported growth in first-half earnings that matched analysts’ estimates after raising prices for cigarettes across its main U.K. market. Adjusted operating profit rose 3 percent to 1.52 billion pounds ($2.5 billion) in the six months ended March 31, the Bristol, England-based company said today, equaling the median estimate of four analysts surveyed by Bloomberg. Imperial Tobacco is market leader in the U.K., where profit rose 9 percent after price increases in October and March. Selling volume in Britain rose 6.5 percent as some smokers switched to cheaper brands such as JPS Silver, or to fine-cut tobacco. British consumers “continue to economize,” Chief Executive Officer Alison Cooper said in a statement. “Underlying profits are going up in the U.K., and that’s the most important thing,” Chris Wickham, an analyst at Oriel Securities, said in a phone interview. Imperial Tobacco rose 3.7 percent to 2,556 pence at 4:35 p.m. in London trading, the third-biggest gainer in the benchmark FTSE 100 Index. (UKX) Read the full article which contains extracts from an interview with the CEO and further analysis: http://www.businessweek.com/news/2012-05-01/imperial-tobacco-profit-gain-matches-estimates-on-prices
Alison Cooper, Chief Executive, said: "Our focus on realising the potential of our total tobacco portfolio through our sales growth drivers has delivered a good first half performance, with strong second quarter results reflecting the sales momentum we're generating. "I'm pleased with the ongoing success of our key strategic brands Davidoff, Gauloises Blondes, West and JPS, as well as the recent cigarette and fine cut tobacco share progress we've made in both the EU and emerging markets. "Disciplined investments are supporting our sales ambitions and we'll continue to maximise the many growth opportunities that our unique portfolio offers to create further value for our shareholders."
Half Year Results for the 6 months ended 31 March 2012 Total Tobacco Portfolio Driving Sales Momentum Sales Growth · Tobacco net revenue up 3.3 per cent; stick equivalent volumes down 4.1 per cent · Key strategic brand net revenue up 12 per cent; stick equivalent volumes up 5 per cent · Continued growth in luxury Cuban cigars and snus · Strong Q2 growth: tobacco net revenue up 8 per cent*; stick equivalent volumes down 1 per cent* Ongoing Cost Optimisation · Tobacco adjusted operating margin at around 43 per cent · Disciplined investments supporting growth Maximising Cash Returns · Interim dividend up 13 per cent · Ongoing increase in full year dividend payout ratio ahead of adjusted earnings per share growth · Annualised £500 million share buyback achieved and ongoing
http://www.investegate.co.uk/Article.aspx?id=201205010700224393C
Panmure Gordon retained its "buy" stance on Imperial Tobacco (IMT), with a target price of 2,900p. With the cigarette company noting improved volumes in the second quarter, the broker forecasts first half revenue growth of 3% to 3.9 billion pounds, although Panmure noted that volumes began to decline in Spain, over March. The broker will also be looking for news on the group's investment strategy in developing its key brands such as Davidoff and Rizla.
Of all the Q1 updates worth noting, cigarette giant Imperial Tobacco (IMT) still looks in good shape in the wake of the update at the end of March where it forecast that first half reported tobacco net revenues (at constant exchange rates) are expected to increase by around 3%. Stick equivalent volumes are expected to decline by around 4% compared with a 7% year-on-year fall in stick equivalent volumes in the 3-months to the end of December, and a 1% fall in net revenues. This may not sound like something to set the stock market on fire, but in the current jittery macro economic climate Imperial is likely to be offering enough to live up to the defensive reputation its sector is known for.
TRADING UPDATE Imperial Tobacco Group PLC (Imperial Tobacco) confirms that the overall financial position and operational performance of the Group for the financial year to 30 September 2012 is in line with the Board's expectations. Following a first quarter impacted by various external factors, we delivered strong revenue and profit growth in the second quarter, improving our revenue and profit momentum as we enter the second half. First half reported tobacco net revenues* are expected to increase by around 3 per cent and reported stick equivalent volumes are expected to decline by around 4 per cent. Our performance reflects continued success across our key strategic brands Davidoff, Gauloises Blondes, West and JPS and our luxury Cuban cigar portfolio, complemented by fine cut tobacco gains and further smokeless growth. Imperial Tobacco expects to release its results for the half year ending 31 March 2012 on Tuesday 1 May.
http://www.investegate.co.uk/Article.aspx?id=201203290700093300A
Nomura has reiterated its neutral rating and 2,150p target price for Imperial Tobacco, despite the group's new sales-led growth strategy. "We fail to see Imperial’s new sales focus having the impact required in terms of re-invigorating the top line, and believe this will likely become evident with softer-than-expected 2012 volumes," the broker said. "Despite these fundamental pressures, we also see these as making Imperial more susceptible to a take-over, and with increased speculation surrounding this possibility likely to support the multiple from here, we see no value in being underweight at this current time." Jefferies has maintained its hold rating and 310p target price for the UK's third-largest food retailer, Sainsbury, saying that it has the highest leverage/multiples and the lowest return on capital employed (ROCE) relative to its peers. It says that with increasing densities the key to margin expansion, there is little upgrade potential for now, making sector peers Morrison and Tesco more attractive, trading at a 15% discount on 2013 earnings with sharply lower leverage.
This has been good for me as well. I've been in since the demerger from Hanson in '96, and can remember buying them at 480p in a RI in '02!! The div of 67p was paid Friday. I take mine as new shares but with the sp around £25 i only gain about 20 a year. ATB.
This has always been good to me. Had my last lot at £20.00 and still holding, div to be paid next week i think. =).
Nice to see this reach £25 for the first time in almost 4 years, how long before it reaches it's all time high of £27.19 reached in Dec '07? And rumours of a £35 a share break-up bid from Japan Tobacco - see mulledwine's comment below. I love smokers, keep puffing away!! ATB.
Rumours of an imminent mega Footsie bid helped City dealers kick the tedious Greek bailout saga and the ongoing controversy about bank bonuses well and truly into touch. Lambert & Butler and Golden Virginia cigarette group Imperial Tobacco, the world’s fourth-largest independent cigarette manufacturer, was puffed up to 2504p in heavy trading before closing 43p higher at 2492p on revived talk of a £35 a share break-up bid from Japan Tobacco, which controls over 66% of the cigarette market in Japan. It is now known to be on the trail of further acquisitions after its purchase of Gallaher Group in 2007. Imps recently reported a 7% decline in first-quarter cigarette sales and blamed a loss of distribution in Syria due to international sanctions, double-digit market declines in Spain as a result of a price war and trade loading effects around a price increase in the US, according to the Daily Mail.
Obviously, investing in tobacco shares is not to everyone's taste – but through good times and bad they continue to make money for shareholders, Questor in the Telegraph notes. A study this week released by BNY Mellon Wealth Management and Janney Montgomery Scott showed that the MSCI World Tobacco Index had the highest return out of 67 groupings in the MSCI World Index in the 10 years to 2011. The sector was the best place to put your money in the equity markets for the past 10 years. By historical standards the shares of Imperial Tobacco are looking cheap, Questor reckons, trading on a September 2011 earnings multiple of 11.2, falling to 10.3 next year. The prospective yield is 4.6%, rising to 5.1%, which is attractive for income-seekers. IMPs has changed its dividend policy to increase the pay-out ratio to 50% of adjusted earnings, instead of 47%. The shares were last recommended as a buy at £21.03 a share on September 22 last year. They are up 10% since then, compared with a market up 15%. The sector should continue to generate significant amounts of cash to pay dividends and invest in its key brands. The shares remain a buy for income-seekers, Questor believes.
Summarising today's announcement Alison Cooper, Chief Executive, will say: "Our continued focus on realising opportunities from our total tobacco portfolio supported by innovation and price optimisation has delivered underlying tobacco net revenue growth of 3 per cent in the first quarter. "Combined stick equivalent volumes of our key strategic brands Davidoff, Gauloises Blondes, West and JPS were up 3 per cent and net revenues up 10 per cent with our focus on consumer relevant innovation and new formats driving growth in these brands in cigarette in emerging markets and fine cut tobacco in the EU. "Delivering the planned acceleration in our underlying sales momentum whilst continuing to realise cost and cash opportunities remain our priorities such that we are well placed to create further value for our shareholders this year."
INTERIM MANAGEMENT STATEMENT Ahead of the Annual General Meeting to be held later today Imperial Tobacco Group PLC confirms that the overall financial position and operational performance of the Group for the financial year to 30 September 2012 is in line with the Board's expectations. Performance Overview · Underlying* sales momentum with good progress in emerging markets and EU gains · Underlying* stick equivalent volumes down 1 per cent, with tobacco net revenues up 3 per cent reflecting strengthening price/mix · Specific factors impacted reported stick equivalent volumes, down 7 per cent with tobacco net revenues down 1 per cent Total tobacco supporting sales growth momentum · Good performance from key strategic brands; stick equivalent volumes up 3 per cent and net revenues up 10 per cent · Luxury Cuban cigar volumes up 14 per cent in emerging markets · Snus volumes up 76 per cent * Excluding the impacts of Syria, Spain, USA and Ukraine referred to below
http://www.investegate.co.uk/Article.aspx?id=201202010700205678W