Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on SABMILLER PLC. We currently have 15 research reports from 3 professional analysts.
|06Oct16 11:52||PRN||Form 8.3 - Anheuser-Busch InBev SA|
|05Oct16 15:20||RNS||Form 8.3 - SABMiller PLC|
|05Oct16 14:23||RNS||Form 8.3 - Anheuser-Busch InBev SA NV|
|05Oct16 14:23||RNS||Form 8.3 - SABMiller Plc|
|05Oct16 13:21||PRN||Form 8.3 - SABMiller Plc|
|05Oct16 12:28||RNS||Form 8.5 (EPT/RI)Replacement SABMiller Plc|
|05Oct16 12:26||RNS||Form 8.5 (EPT/RI)Replacement Anheuser-Busch InBev|
Frequency of research reports
Research reports on
27 Jul 16
Ahead of the anticipated Fed statement this afternoon, which should outline findings and expectations from the 2-day FOMC meeting, London equities are expected to open in a lacklustre mood, with the FTSE-100 seen up around 10 points in early trade. With expectations of a continuing ‘wait-and-see’ approach, while additional data is collected throughout August in order to assess post-Brexit global confidence, the hot money continues to suggest September as the most likely month to see the first US rate hike since December 2015. With that background, markets will instead be left to focus on less than inspiring earnings figures emanating from the Q2’16 US reporting season. So far 159 companies in the S&P500 have provided results which, according to FactSet are showing an annual contraction of 4.5%; relative to consensus expectations of a 5.3% decline that has not been enough for markets pundits to celebrate and, following consecutive days of new record highs for both the main indices, there is little enthusiasm to push any further. This left the principal US indices to close mixed but little changed yesterday, with the tech-heavy NASDAQ being the principal winner. Asia was altogether more positive, as investors bought the Nikkei back again on revived expectations of the BoJ delivering a sizeable stimulus package after all. With Japan regaining just about all of Tuesday’s losses, again led by tech issues, the region saw more modest rises elsewhere, but even the commodity-heavy ASX turning fractionally positive by the close despite high crude inventories keeping oil close to its three-month low. While the FOMC statement will be today’s main action, UK GDP preliminary estimates and monthly service sector figures have the potential to grab some headlines. UK corporates reporting earning this morning include GlaxoSmithKline (GSK.L), Mitchells & Butler (MAB.L), Taylor Wimpey (TW..L), Dignity (DTY.L), St James’ Place (STJ.L) and Softbank’s takeover target, ARM Holdings (ARM.L).
22 Jul 16
Equities in London are set to open nervously, with the FTSE-100 seen losing some 23 points in early trade. The European Central Bank yesterday became the latest to adopt a 'wait-and-see' approach, keeping policy unchanged while seeking for clearer signs of momentum from its domestic economies, impact from the UK's decision to exit the EU and greater certainty ahead of the looming US Presidential election. Only the IMF appears willing to 'call it like it is', having issued an urgent call for the world's largest economies to add more stimulus, telling central banks of the 20 largest nations they not only need to retain current easy-money policies, but should also prepare further steps to shore up stagnating outlooks before they become a downturn. These nerves even spread to the US, where the Dow Jones had initially chalked up its ninth consecutive rise, notching up a further record high, before succumbing to profit taking led by industrials and commodity stocks, which dragged the other principle indices down with it. Asia, seemingly concerned that ECB's inaction could find itself unexpectantly copied by the BoJ, saw all territories push into the red, with the Nikkei leading the down-wave despite Nintendo again putting in a strong individual performance. London awaits more news from the both Theresa May's European tour and now also Phillip Hammond's foray into China, while anticipating the latest Manufacturing PMI data release this morning. Amongst corporates, a quarterly trading update is expected from Vodafone, an IMS from Big Yellow and finals from Beazley.
Q1 hurt by subdued performance of JV and associates
21 Jul 16
SABM released its Q1 update. Group NPR growth at constant currency stood at +2%, whereas volumes were flat. NPR by region: LatAm +5%, Africa +6%, Asia Pacific -2%, Europe +6%, North America -3%. The group revenue growth per hl stood at 2%. Lager volumes were up +5% for own subsidiaries and -5% for JV & associates, whereas soft drinks were up +2% (driven by Africa & Europe, LatAm was weak). Volume growth by region: LatAm +1%, Africa 0% (supported by soft drinks), Asia Pacific -3%, Europe +8%, North America -4%. On reported figures, NPR in the quarter was down 4% due to negative currency effects.
UK FMCG – Price Target Revisions
15 Jul 16
Stockmarket uncertainty in the 3-week period since the Brexit referendum outcome unsurprisingly led large cap UK FMCG shares to outperform the domestic index. The sector clearly benefits both from sales stability and high overseas earnings. Comparative UK profit exposures are shown in Exhibit 1 below.
21 Mar 17
Fever Tree’s (FEVR LN, HOLD, T/P 1250p) preliminary 2016 results this morning included in line EBITDA and diluted EPS. The company reported £35.8m of EBITDA – marginally ahead of our own £35.6m estimate and in front of £34.9m consensus forecast. Adjusted diluted EPS was 23.7p (+104%), consistent with our estimate (23.7p) but slightly below the 24.0p predicted by consensus (source: Bloomberg). Fever Tree holds an analyst presentation at 9.30am.
Small Cap Breakfast
21 Mar 17
First Sentinel—Investment company expecting NEX admission/introduction on 24 March. £636k raised pre-IPO. BioPharma Credit—Expected Gross Initial Acquisition Proceeds now c.$338m. Gross Cash Proceeds capped at $423m with placing and open offer. Results expected 23 March with admission now due 30 march. Tufton Oceanic Assets- The Company intends to invest in a diversified portfolio of second hand commercial sea-going vessels where the Investment Manager believes that an attractive opportunity exists in shipping. $150m raise. Admission 3 April.
Small Cap Breakfast
23 Mar 17
K3 Capital Group—Schedule 1 from the Group of business and company sales specialists across business transfer, business brokerage and corporate finance. Admission date and fundraise details TBC. Integumen— Schedule 1 from the personal health company developing and commercialising technology and products for the human integumentary system. Raising £2.16m at 5p. Expected market cap £8.16m. Admission expected 5 April. Sentinel—Investment company expecting NEX admission/introduction on 24 March. £636k raised pre-IPO. BioPharma Credit—Expected Gross Initial Acquisition Proceeds now c.$338m. Gross Cash Proceeds capped at $423m with placing and open offer. Results expected 23 March with admission now due 30 march.
Panmure Morning Note 20-03-2017
20 Mar 17
Today’s H1FY17 results are in line with our and consensus expectations, and we are therefore maintaining our FY17 and FY18 PBT estimates. We regard this as a resilient performance given the turbulent backdrop. We leave our BUY rating and 150p TP unchanged to reflect our positive view on FIF’s long-term prospects predicated on; (1) FIF’s broad-based business spread across channel, customer and product providing diversification of opportunity and risk; (2) FIF is wellpositioned in the fast-growing areas (e.g. artisan breads, celebration cakes, “food-to-go”/foodservice) of the UK bakery market; and (3) FIF’s market leading position and size to deliver scale advantage to develop its stated growth opportunities (including targeted accretive acquisitions), further supported by FIF’s sound financial position (H1FY17 net debt/EBITDA of 0.8x).
Eyeing Up Opportunity
24 Mar 17
Produce Investment’s (PIL LN, BUY, T/P 210p) interim profits were well beneath inferred market expectations as delays in the recovery of ex-farm potato prices coincided with unusual costs associated with the company’s implementation of a new ERP system. Interim EBIT fell to £0.2m from £3.4m last year.
Panmure Morning Note 23-03-2017
23 Mar 17
Venture Life has announced results for the full-year to 31 December 2016 and while investors got a good flavour of the FY16 performance in the January trading update, we think the performance speaks for itself. Prior to January we’d been looking for £14m top-line for the year, VLG has come in with £14.3m (+57%), adjusted EBITDA £0.8m (vs PGe adjusted EBITDA £0.6m), gross margin up, operational leverage kicking in, UltraDEX ticking along very nicely, new key hires. We consider Venture Life to be a well-positioned growth business taking advantage of a well-developed product platform, with high-quality execution. We’ll take the opportunity to revisit forecasts in due course given the recent arrival of Adrian Crockett as CFO, but our investment thesis remains and the business is looking in good shape. Buy.