A leading owner and producer of premium branded spirits and liqueurs that are principally sold in Central and Eastern Europe.
9-Jan-2018 – 264.5p – £529.0m – PER 18.2
Trading Update For The 12 Months To End December 2017 – Slightly ahead of expectations.
Looks expensive to me.
22-May-2018 – 252p – £504.0m – PER 15.9
AGM Statement – In-line.
Part of me tells me this is expensive and part says this could go places – For now though I will remain Neutral.
8-Aug-2018 – 207.5p – £414.0m – PER 13.0
Interim Results For The 6 Months To End June 2018 – Revenue up 5.3%, PAT up 8.6%, EPS up 9.1% and the Interim Dividend is up 5%. Well positioned for further growth.
I remain Neutral.
9-Oct-2018 – 200p – £400.0m – PER 12.8
Trading Update For The 9 Months To End September 2018 – In-line.
I still can’t really make up my mind here – Could this be big or is it going sideways/nowhere? I will remain Neutral having more of a gut feel for the latter at the moment.
5-Dec-2018 – 195.2p – £390.8m – PER 12.4
Preliminary Results For The 9 Months To End September 2018 – Way too complicated for me – Seems to be heading in the right direction but it’s just not clear enough to me.
I said last time “I still can’t really make up my mind here – Could this be big or is it going sideways/nowhere? … gut feel for the latter at the moment”. I await the next update.
14-Feb-2019 – 225p – £450m – PER 14
AGM Trading Statement For The Period 1st October 2018 To 14th February 2019 – On track with its plans for the year as a whole.
A little bit of a strange statement but enough to keep me on the side-lines – Plus many of the Polish people I know have not even heard of many of the brands on offer here!
14-May-2019 – 234p – £466m – PER 13.8
Interim Results For The 6 Months To End March 2019 – Acquisition made and overall growth seems to be circa 10% or so.
Still hard to pick the meat out of the RNS issued by this company – Seems reasonable enough though with 10% or so growth, a 4% or so yield on a PER of 14 or so. Will keep an eye out for revised Broker notes.
8-Oct-2019 – 229p – £459m – PER 14
Trading Update For The 12 Months To End September 2019 – In-line.
Looks about fair value to me at these levels, doesn’t excite much at present.
