Hints and tips:
...The beat vs consensus was somewhat expected, given the company’s comments around Marketing EBIT last week. Marketing EBITDA came in 14% above MSe as energy products beat our expectations....
...On our new estimates, L’Oréal trades on an FY21E P/E of 32.6x, the highest premium versus the consumer staples sector for over 10 years....
...Lundin and Serica Energy are also upgraded with Tullow and Cairn remaining on “underperform” and most other things are “buy”....
...The energy transition strategy update in March is key to becoming more positive on the stock, absent a V-shaped recovery for their O&G customers. Glaring value?...
...P&C outperformed into the corrections in the past 8 years....
...Over 2009-19, SWMA achieved average organic sales and operating profit growth of c.5% p.a. and c.7%, respectively and EPS growth of 10% p.a....
...Next currently trades at c.10.5x FY20 P/E but doesn’t offer its usual strong cash returns currently....
...The most tangible outputs from this are cost efficiencies (for example, payroll and marketing savings of c.£44m and c.£16m p.a. respectively, and distribution cost leverage through simple measures to drive...
...Cost savings actions (pay cuts, marketing freezes, government support) will reduce costs by c.£100m....
...L.P. (“KKR”) and GK Investment Holding Group SA (“GKI”) (each a “Potential Offeror”) regarding possible offers for the Company....
...What happens further down the P&L is largely a question of capital structure, but it appears most will be either loss-making or make only marginal PBT....
...V, U, or L? The nature of Covid-19 growth impact means that some elements – e.g., production resumption, inventory restocking, and travel normalisation – would lend a natural rebound to growth....
...We are encouraged by the sense of renewed energy and focus but the dividend cut could force some sellers into the market....
...Valves Group All3Media International Allstate Northern Ireland Ampetronic A-Safe (UK) Aspen Pumps Axis Productions B The Berkeley Group Holdings BT Technology, Services and Operations Bute Fabrics C...
...On Friday BP also announced the sale of its Sunray and Hemphill gas processing plants in Texas to Eagle Rock Energy Partners for $227.5m....
...C....
...4.8°C....
...Constantinos C. Markides is professor of strategic and international management and holds the Robert P. Bauman Chair of Strategic Leadership at the London Business School....
...Hoad, planning partner of Campbell Doyle Dye, is ex-P&G. K is for knickers....
...less time, less energy less creative pulse, as it were really to focus externally?. Andrew Wood, an analyst with Sanford C....
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