Support our sponsors:

NZX 50 Index	4611.96	2.40
S&P/ASX 200	5191.20	0.00
Dow Jones Industrials	14839.80	21.00

Twitter

Facebook

RSS

Guinness Peat Group

Monday 29th August 2011

Text too small?

Guinness Peat Group (GPG) has been upgraded to buy from hold by Deutsche Bank. GPG continues to work through the implementation of its capital return initiative to shareholders which saw £80 million returned to shareholders on 12 July 2011. GPG intends to realize value for shareholders by discontinuing any new investment and proceeding with an orderly realisation of its investment portfolio.

Last week GPG released its half year result for the six months ending 30 June 2011, which saw the company end the first six months with a net asset backing of 54.79p per share. Disposals of investments during the period saw net cash generated from investment activity and realisations totaling £98 million.

GPG reported that its investment in Coats continued its recovery during the first half, and an attributable GPG profit of £23 million was reported.

Coasts’ Industrial Division experienced continued raw material and payroll inflationary pressures during the first half, and some local disruption to customer activity in both North East Asia (arising from the catastrophic events in Japan in the first quarter) and North Africa. However Coats reportat that the business performed well overall in the first half, and each geographic region traded in advance of 2010.

Contact IRG on 0800 437 8489
**A disclosure statement is available, on request and free of charge by calling 0800 437 8489.

Recommendation sourced from the IRESS software trading platform

Disclaimer

In accordance with the Financial Advisers Act 2008 (“the Act”) Sharechat is “Class Advice” and any advice or recommendations contained on this webpage is not “Personalised Advice” as defined by the Act. This means Sharechat does not take into account an investor’s particular financial position, financial needs, financial goals or risk profile. Investor’s who require “Personalised Advice” should contact an Authorised Financial Adviser (AFA).

Daily ShareChat articles report how the main experts in the market might view a certain share and we provide this commentary as a useful resource for investors. Content on this site does not in any way constitute a recommendation to buy, hold or sell any particular share. Investors should always seek professional advice before making any investment decisions.

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.