Belvedere has been rebranded as Marie Brizard Wine & Spirits (MBWS), with an enhanced board, powerful shareholders and ambitious growth plans. Having risen 84% ytd, the shares now trade at a P/E of c 33x 2016e and c 17x 2017e. The investment case is focused on the long-term strategy, where EPS upgrades could be triggered by a new BiG 2.0 plan. A definitive exit from administration would also be an important step forward.
10 Nov 2015
Rebranded with a BiG long-term plan
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Rebranded with a BiG long-term plan
Belvedere has been rebranded as Marie Brizard Wine & Spirits (MBWS), with an enhanced board, powerful shareholders and ambitious growth plans. Having risen 84% ytd, the shares now trade at a P/E of c 33x 2016e and c 17x 2017e. The investment case is focused on the long-term strategy, where EPS upgrades could be triggered by a new BiG 2.0 plan. A definitive exit from administration would also be an important step forward.