African conglomerate Lonrho is up following the appointment of a chief executive for its agribusiness division.
Ben Ward brings extensive experience in global supply chains and dealing with multinational retail customers and will be running the division's day-to-day operations.
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Analyst Michal Campbell from broker Daniel Stewart has put out a 'Buy' note on the company, saying: "The stock trades on 6.7 times our forecast for earnings before interest tax, depreciation and amortisation for the full year 2013, which we view as an attractive entry multiple into a business that should not only deliver around 80 per cent profit growth 2013/12 but we expect should start generating operating cash and importantly free cash flow in the near future."
CM
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Steve Webb: The triple lock is there to do a job. I’m not embarrassed or ashamed of itThe triple lock means 13 million pensioners will now get an above-inflation state pension boost in April. While the rising cost of the policy has stirred controversy, Steve Webb, who served as pensions minister when it was introduced, argues the triple lock is vital and should stay. Webb speaks to Kalpana Fitzpatrick on the new episode of MoneyWeek Talks – out now.
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How retirement pots risk running out 11 years early if inflation remains highPension savers could find their retirement income may not last as long as they anticipated over fears that inflation may not slow down
