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.
|05Oct16 08:00||RNS||Delisting of SABMiller plc shares on the JSE|
|04Oct16 06:17||RNS||Scheme of arrangement becomes effective|
|04Oct16 12:00||RNS||Scheme of arrangement sanctioned by Court|
|03Oct16 11:45||RNS||Holding(s) in Company|
|30Sep16 04:30||RNS||Director/PDMR Shareholding|
|30Sep16 11:00||RNS||Total Voting Rights|
|30Sep16 08:00||RNS||Rule 2.9 Announcement|
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.
The Monthly January 2017
09 Jan 17
Despite all the hullaballoo of the Brexit vote and the subsequent election of Donald Trump as the next US President, the UK stock market prospered last year, especially in the latter few months of 2016. The combination of a depreciating currency – making $ earnings more valuable in relative terms - and the Trump emphasis on infrastructure expenditure drove the stock market higher
Panmure Morning Note 19-01-2017
19 Jan 17
Today’s H1FY17 pre-close is more than just solid; it demonstrates FIF’s resilience. As flagged at September’s FY16 results and, as demonstrated by both November’s reassuring AGM trading statement and today’s encouraging H1FY17’s pre-close, FIF is both well-prepared and well-equipped to offset considerable input cost pressures and maintain its progress on multiple levels, whilst the scope for accretive M&A in a highly fragmented market remains an added attraction. We maintain our BUY.
Agriculture starts FY2017 ahead of expectations
10 Jan 17
Carr’s Group’s (CARR LN, HOLD, T/P 175p) issued a statement today which confirmed that the company continues to trade in line with the Board’s expectations for the current financial year. The announcement refers to 18- week period which ended on 7th January and is the first pre-AGM statement since the disposal of the flour milling business for £36m.
Joy of Techs
21 Nov 16
ICT evolution is driven by technological development as advances are made which both meet and shape customer requirements. Our 2011 note No such thing as a telco described the modern reality in that former ‘telcos’ now deliver varying elements of a range of managed services. We built on this theme last year, exploring in further detail their evolutionary paths, operating fundamentals, and cashflow yield similarities. In the consumer environment, demand for bundles of technology is complemented by demand for content. Across the pond, the mooted combination of AT&T and Time Warner typifies the bundled need of ‘pipe’ and content, since unbundled alternatives such as FaceTime and WhatsApp can be easier and clearer to chat over, and Amazon and Netflix are easier to watch anywhere. In the UK, BT’s defensive actions cover delivery, content and capabilities, acquiring EE yet also buying football rights. While TV was long ago added to triple play to become quad play, voice is now merely an app, and fixed and mobile seen as just dumb pipes: it's the content that will influence consumer choices. Growth of TV and film as well as music and gaming over IP leads to UK small cap opportunities. In context of the drive to maximise value from pipes and access by offering content and data, we look at some amongst the potential tech small cap beneficiaries: Amino*, Keyword Studios, ZOO Digital*, 7digital*, KCOM* and CityFibre*.
19 Dec 16
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