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Company overview SAB Miller is one of the world's largest brewers, with more than 200 beer brands and some 70,000 employees in over 75 countries. It is also one of the world’s largest bottlers of Coca-Cola products. The group's portfolio of brands includes premium international beers such as Pilsner Urquell, Peroni Nastro Azzurro, Miller Genuine Draft and Grolsch, as well as leading local brands such as Aguila, Castle, Miller Lite, Snow and Tyskie. SABMiller PLC's primary listing is on the London Stock Exchange, with a secondary listing on the Johannesburg Securities Exchange in South Africa.
Mark Bowman, Managing Director of SABMiller Africa, said: "We have been investing heavily to grow capacity and stay ahead of demand across Africa. The expansion of our Chibuku operations illustrates how we are driving our affordability strategy, product innovation and maintaining momentum behind our 'Farming Better Futures' programme through this continued investment."
CONT Chibuku Super has been brewed successfully on a small commercial basis in Zambia for the past 12 months. A larger plant has been commissioned in the past few weeks at Kitwe, in the north of the country, to further grow this category. New 'Super' production lines will also be in place in Mozambique and Zimbabwe by the end of this year. Following successful pilot schemes in Ghana, Mozambique, Swaziland and Tanzania, full-scale Chibuku production has now been launched in each of these countries. A Lesotho pilot has been launched with commercial sales expected in the next few months and in Uganda a brand new plant is being planned as part of the new brewery under construction in Mbarara. SABMiller's expansion of Chibuku is part of its strategy to make more affordable beers for lower-income consumers across Africa taking share from the often unsafe 'informal' alcohol market. It also provides a guaranteed market for the smallholder farmers through which SABMiller sources the maize and sorghum used in production. In the year ending March 2012, SABMiller sourced maize and sorghum from around 40,000 smallholder farmers across Africa.
SABMiller doubles its traditional African beer operations SABMiller plc [SAB:LSE/SAB:JNB] today announces that it has expanded its African beer brand, Chibuku, into ten countries across the continent. Chibuku is an opaque beer based on traditional African recipes using maize and/or sorghum, depending on local tastes. The expansion of the brand more than doubles the number of Chibuku markets from four (Botswana, Malawi, Zambia and Zimbabwe) at the start of 2011. Following an investment of US$16m over the last 18 months, it is expected that by the end of this financial year Chibuku volumes across new markets in Africa will total well over half a million hectolitres. The brand's expansion has also created 200 new direct jobs, supporting a further 1,500 jobs indirectly in the supply chain and distribution network. Sold in one litre cartons, Chibuku is a low-alcohol beer that ferments in the package with alcohol strength increasing from 0.5%ABV on day one up to 4%ABV on day five before expiry. Given its short shelf life it must be brewed and consumed locally. A new variant, 'Chibuku Super' has been launched in Zambia in September. Chibuku Super is lightly carbonated, pasteurised - meaning it has a fixed alcohol content of 3.5%ABV - and sold in PET packaging. Its longer shelf life means the distribution model for 'Super' is closer to that of clear beer.
http://www.investegate.co.uk/Article.aspx?id=201210100700083270O
Pressure groups campaigning for more women in executive positions in Britain's board rooms will be heartened by the appointment of Catherine May as Director of Corporate Affairs at brewing giant SABMiller. May will join SABMiller's Executive Committee, reporting to Executive Chairman Graham Mackay, and will be responsible for media, investor relations, political affairs, corporate affairs, corporate social responsibility and internal communications. May held a similar role at Centrica between 2006 and 2011, and before that she was Group Director of Corporate Relations at Reed Elsevier. "With her extensive international corporate affairs and communications experience, she will make a great contribution to our performance as one of the world's leading brewers, leading the strong corporate affairs function built up by Sue Clark, and continuing to develop the critical capabilities which help to grow our business sustainably for the benefit of all of our stakeholders," Said Mackay. Sue Clark, who used to be Director of Corporate Affairs, was appointed Managing Director of SABMIller Europe in June 2012.
Nomura has downgraded its rating for drinks giant SABMiller from 'neutral' to 'reduce' with the shares now trading at a nine per cent premium to the 'beer average'. "The H1 reporting from Heineken yesterday supports our cautious view, with higher input costs, exacerbated by FX movements, especially in C& E Europe and Africa. In addition, price/mix appears to have been weak in C & E Europe, exacerbated by growth in discount channels," the broker said.
SABMiller: Societe Generale downgrades to hold.
Positive Points: Overall group performance exceeded analyst expectations. The world's second biggest brewer earns around 70% of its profit from fast-growing emerging markets offering an element of protection from its more challenging mature markets. SAB Miller acquired Australian brewer Foster's in December 2011 in a deal valued around US$10 billion, opening a near half share of the Australian beer market. Cost savings following the takeover are being considered by management. SAB Miller is one of the world's largest bottlers of Coca-Cola products. The group's dividend policy continues to be progressive.
Negative Points: The Australian lager industry continued to be affected by the loss of market share to other alcoholic beverages together with subdued consumer sentiment leading to a significant reduction in volumes. Raw material costs remain a broader concern while investment in the group's brands and market facing capabilities has previously placed pressure on group margins. Trading for the group's US MillerCoors’ business proved to be disappointing, with sales to retailers down by 1.4%. Industry specific risks include exposure to changing consumer fashion, affordability of its products and spending trends. It is possible that harsher anti-alcohol laws or an increase in beer tax excise could impact on SAB's businesses, as previously seen in Colombia. With the group's considerable emerging markets exposure, a general slowdown in these economies would impact on group profits.
Financial Highlights: Total drinks volumes rose by 10% Organic lager volumes increased by 5% Soft drinks volumes were 6% higher Organic revenues on a constant currency basis grew by 8%
First quarter update: Group performance exceeded analyst expectations. Trading for the Group's European operations led the way, aided by the Euro 2012 football tournament. Larger volumes across Europe rose by 7%, whilst volumes in Poland increased by 11%. The company’s Latin American division enjoyed growth, with volumes expanding by 6%, while its African business grew by 9%. Asia Pacific played its part, reporting growth of 7%, led by a 24% volume increase in India, China reported an expansion of 5%. In all, and supported by expected future growth across the Emerging Markets,
SAB Miller is one of the world's largest brewers, with more than 200 beer brands and some 70,000 employees in over 75 countries. It is also one of the world’s largest bottlers of Coca-Cola products. The group's portfolio of brands includes premium international beers such as Pilsner Urquell, Peroni Nastro Azzurro, Miller Genuine Draft and Grolsch, as well as leading local brands such as Aguila, Castle, Miller Lite, Snow and Tyskie. SABMiller PLC's primary listing is on the London Stock Exchange, with a secondary listing on the Johannesburg Securities Exchange in South Afric
Shore Capital retained its "buy" recommendation for SABMiller (SAB), ahead of Thursday's first quarter update, expecting the brewer to report strong volumes growth in the emerging markets of Latin America, Asia Pacific and Africa. However, the broker believes trading in Europe and North America will weaken, forecasting a decline in volume of 2% in both regions. Shore will also be looking for news on the integration and development of the group's Foster's acquisition, noting that volumes were down 4% in the prior financial year. The shares declined by 13p to 2,664.5p.
Investec has downgraded its rating for drinks giant SABMiller from 'buy' to 'hold' after the recent outperformance in the shares. "SAB has been a strong performer in a UK consumer staples universe that has run hard over the last few months. Though we remain supporters of the medium-term growth narrative, we view this as an appropriate point to move to the side-lines," Investec said on Tuesday morning. Despite the downgrade, the broker has raised its target price from 2,680p to 2,720p.
25 June 2012 Barclays Capital retains its Overweight rating for SABMiller, with a target price of 2,800.00. 27 June 2012 Galvan Research reiterates it Buy recommendation for SABMiller, with a target price of 2,635.00. 28 June 2012 RBC Capital markets initiates its coverage of SABMiller with a Sector Perform rating and sets a target price of 2,800.00. 29 June 2012 Credit Suisse retains its Outperform rating for SABMiller, with a target price of 2,900.00. 03 July 2012 Canaccord Genuity reiterates its Buy recommendation for SABMiller, with a target price of 2,830.00. Source: http://sharedealing.nandp.co.uk/quote/?epic=SAB 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
SABMiller and C and C were making decent gains on Wednesday, lifting the beverages sector to the top of the pile. SABMiller, the beer giant famous for its Peroni-, Foster- and Miller-branded lagers, was up nearly 3% in afternoon trade after some upbeat comments from Galvan Research. "SABMiller investors clearly have a stake in a group that is steadily evolving into an emerging markets play, despite the recent Foster's Australia acquisition. Even the UK market shows some growth potential with the SAB 'world beer' brands," said head of research Andrew Gibson.
Canaccord Genuity retained its "buy" stance on SABMiller (SAB) with a 2,830p target price. The brewer's MillerCoors' subsidiary has a 35% share of the beer market in the southern United States and the broker believes there are positive signs towards the stemming of the volume decline of its key Miller Lite brand. On Canaccord's earnings forecasts, the shares trade on a prospective multiple of 14 times for 2013, which it noted is broadly in-line with its European peer group average of 13.7 times. The broker feels that this is unfair given SAB's significantly superior exposure to emerging markets. The shares grew by 24.5p to 2,478.5p.
Positive Points: The world's second biggest brewer earns 70% of its profit from fast-growing emerging markets offering an element of protection from its more challenging mature markets. SAB Miller acquired Australian brewer Foster's in December 2011 in a deal valued around US$10 billion, opening a near half share of the Australian beer market. Cost savings following the takeover are being considered by management. The maker of Grolsch, Peroni Nastro Azzuro and Miller Lite said African, Asian and Latin American volumes rose 13%, 4% and 8%, respectively. South African volumes grew 2%. SAB Miller is one of the world's largest bottlers of Coca-Cola products. It had a market capitalisation of approximately £41.6 billion as of 19April 2012. Beer price rises helped the group to push up revenues. The group's dividend policy continues to be progressive.
Negative Points: European volumes fell 1% amid difficult economic conditions. Raw material costs remain a broader concern while investment in the group's brands and market facing capabilities has previously placed pressure on group margins. Industry specific risks include exposure to changing consumer fashion, affordability of its products and spending trends. It is possible that harsher anti-alcohol laws or an increase in beer tax excise could impact on SAB's businesses, as previously seen in Colombia. With the group's considerable emerging markets exposure, a general slowdown in these economies would impact on group profits. China's economy grew at its weakest pace in nearly three years in Q1 2012, with the annual rate of expansion slowing more than expected to 8.1% from 8.9% in the previous three months.
Financial Highlights: Net profit for the fiscal year ended 31 March jumped 75% to $4.22 billion. Revenue, which included three-and-a-half months' trading from its recently acquired Foster's unit, rose 11% to $31.4 billion, beating consensus market expectations of $31.3 billion. The company recommended a dividend of 91 cents per share, up 12%
Full year results: Strong growth in Africa and Latin America helped global brewer SABMiller offset a fall in beer drinking in Europe and North America that saw the group unveil a surge in profits by 75%. Earnings after taxation rose to $4.22 billion in the 12 months to the end of March, compared with $2.408 billion in the previous financial year. Revenues meanwhile, climbed by 11% to $31.4 billion. The brewer has compensated for a cutback in spending in North America and Western Europe, as well as escalating commodity costs, by promoting higher-margin premium beers, paring costs and raising prices in key markets to bolster margins. "Trading conditions are expected to be broadly unchanged, with further growth in our developing markets, but no more than modest improvements in consumer spending in some more developed economies," the brewer said in a statement.
SAB Miller is one of the world's largest brewers, with more than 200 beer brands and some 70,000 employees in over 75 countries. It is also one of the world’s largest bottlers of Coca-Cola products. The group's portfolio of brands includes premium international beers such as Pilsner Urquell, Peroni Nastro Azzurro, Miller Genuine Draft and Grolsch, as well as leading local brands such as Aguila, Castle, Miller Lite, Snow and Tyskie. SABMiller PLC's primary listing is on the London Stock Exchange, with a secondary listing on the Johannesburg Securities Exchange in South Africa.
World Beer could account for 20% of UK beer sales by 2014 SABMiller announces that its UK subsidiary, Miller Brands, has delivered lager volume growth of 8% in the 12 months to 31 March 2012, despite a declining UK lager market. Much of this growth is the result of Miller Brands' premium portfolio which has been a significant driver behind the popularity of World Beer in the UK. Peroni, Pilsner Urquell and Kozel all grew by double digits during the year. Recent research conducted by Miller Brands has found that World Beer is the only sector of the UK beer category experiencing significant growth. If the current trend continues, by the start of 2014 World Beer could be worth more than £2.1bn in sales and make up 19% of total lager valuei.
http://www.investegate.co.uk/Article.aspx?id=201205240700209938D