A couple were updated - see here
2. Sold
XAAR - Made £705 (59%)
BMY - Made £312 (21%)
3. Homework
Tim
Vedenta Resources, metallurgy in IndiaVedenta Resources is a holding with
companies specialised in the extraction of minerals and the production of metals
for the vast Indian market.The companies Balco and Malco operate bauxite mines,
which they transform into alumina and aluminium. Balco and Malco boast 21% of
the Indian market.As regards the company Sterlite, they own copper mines and
smelting works. This company have a 42% interest in the Indian market.Finally
HZ1 extracts zinc and lead and represent 75% of the Indian market.
Yahoo broker recommendations are all buy, Indian markets booming with lots of
demand for resources
Made £60m profit last year up from £25m
Go on we all like an Indian on a Friday night.
David
Diageo (DGE)
In its pre-close trading update ahead of its full year results, Diageo confirmed
that organic operating profit growth for the year ended June 2005 is expected to
be about 6%; in line with previous guidance. However, the group’s trading
performance has been impacted by a slowdown in volume growth. This is largely
due to increasingly challenging trading conditions in Europe, particularly in
the beer market, and a slowdown in the US ready to drink segment. The group’s
North American spirits brands have, however, continued to outperform the market
and volume growth in the emerging BRIC markets (Brazil, Russia, India and China)
remains strong.
David / Cobbs
Enterprise Inns (ETI)
Enterprise Inns was formed in 1991 with 368 pubs and floated
in 1995. It now is one of UK's largest independent operators of leased and
tenanted pubs, with around 9,000 outlets. Enterprise concentrates on tenanted
pubs rather than managed outlets and the group owes its size to picking up
unwanted estates when Britain's beer industry split into pub owners and brewers.
Mark
Punch Taverns (PUB)
The Sunday Telegraph
Shares in Punch Taverns weakened in the spring as analysts cooled their interest
in pubs groups amid fears that consumers were spending less. In contrast to
rival Whitbread, which saw sales slow in the first few weeks of its financial
year, Punch is seen as having a resilient business model. It receives a mixed
income from rents and beer sales. With profits rising 37% at the time of its
last interim results and its portfolio of community pubs serving more loyal
customers than high street outlets, Punch shares are undervalued at 685p
Pablo
Green King (GNK)
Another huge pub chain owns Hungry horse.
Noted that top executive moved from here to Punch (see above)
Carnival (CCL)
Carnival is the world's largest cruise operator, with a
portfolio of 12 cruise brands in North America, Europe and Australia currently
operating a total of 75 ships. In 2003 the company combined with P&O Princess
Cruises to form one of the largest leisure travel companies in the world. The
group now encompasses brands such as Carnival Cruise Lines, Holland America Line
and Princess Cruises.
4. Voting
1,500 in each of PUB and CCL
5. Next meeting.
Monday 22nd August - JP to arrange time and place
ACTION ITEMS
Action 1. Homework
Action2. JP to sort next meeting
Action by: All
