Marshalls
Sell at 86p (this week’s price 82p), suggests WH Ireland. A recent update from
this building materials group confirmed that trading over the first half of
the year had proved challenging. Underlying daily sales across the group on
a like-for-like basis were 19pc lower, as per the previous update, while
revenue of £166m missed Ireland’s forecast of £178.8m. Debt at £74m is
expected to reduce over the second half, remaining on target to hit
Ireland’s target
of £62.2m.
SAB Miller
Hold at £12.80 (this week’s price £12.66), says Investec. This major
international brewing company, with roots in South Africa, recently
announced plans to sell a subsidiary share stake to employees in South
Africa. The move is positive, says the broker, with the company building
goodwill with the government and increasing customer loyalty for a
relatively small cost. However, near-term news flow is likely to remain
mixed, with the late-July update potentially reflecting weak volumes outside
China.
Tomkins …
Read the original article at Telegraph
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