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.
Agribusiness accounts for around 70% of Lonrho's revenues and is of crucial importance to the profitability of this FTSE smallcap constituent.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
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
-
What happens if you can’t pay your tax bill, and what is "Time to Pay"?Millions are due to file their tax return this Friday as the self-assessment deadline closes. Though the nightmare is not over until you pay the taxman what you owe - or face a penalty. But what happens if you can't afford to pay HMRC your tax bill, and what is "Time to Pay"?
-
What does Rachel Reeves’s plan for growth mean for UK investors?Rachel Reeves says she is going “further and faster” to kickstart the UK economy, but investors are unlikely to be persuaded
