TuOki^
@tuoki.bsky.social
Reposted by TuOki^
"British American Tobacco: ~10% Dividend Yield for 'Glass Half Full' Investors" $BTI $PM $MO
US revenues -4.5%; cigarette vol. -11.3%
Europe stable; EM grew
NGP headwind; $BATS lost share
EPS growth driven by buybacks
We see 78% total return (25% IRR)
librariancapital.substack.com/p/british-am...
US revenues -4.5%; cigarette vol. -11.3%
Europe stable; EM grew
NGP headwind; $BATS lost share
EPS growth driven by buybacks
We see 78% total return (25% IRR)
librariancapital.substack.com/p/british-am...
British American Tobacco: ~10% Dividend Yield for "Glass Half Full" Investors
The U.S. earnings algorithm is broken, but non-U.S. growth is holding up. 15% FCF Yield, with buybacks likely to resume, potentially helped by ITC share sale
librariancapital.substack.com
February 9, 2024 at 3:43 PM
"British American Tobacco: ~10% Dividend Yield for 'Glass Half Full' Investors" $BTI $PM $MO
US revenues -4.5%; cigarette vol. -11.3%
Europe stable; EM grew
NGP headwind; $BATS lost share
EPS growth driven by buybacks
We see 78% total return (25% IRR)
librariancapital.substack.com/p/british-am...
US revenues -4.5%; cigarette vol. -11.3%
Europe stable; EM grew
NGP headwind; $BATS lost share
EPS growth driven by buybacks
We see 78% total return (25% IRR)
librariancapital.substack.com/p/british-am...
Reposted by TuOki^
John Hempton note on Hibbett $HIBB (they own ~5%)
HIBB "important partner" for $NKE, etc. as its City Gear stores key to US "urban" market
EPS "should be above $8 ... and will increase over time"
Share price is $68 (Bronte buying since <$40)
Also nice sneaker market overview
tinyurl.com/2s39j69d
HIBB "important partner" for $NKE, etc. as its City Gear stores key to US "urban" market
EPS "should be above $8 ... and will increase over time"
Share price is $68 (Bronte buying since <$40)
Also nice sneaker market overview
tinyurl.com/2s39j69d
January 7, 2024 at 11:10 PM
John Hempton note on Hibbett $HIBB (they own ~5%)
HIBB "important partner" for $NKE, etc. as its City Gear stores key to US "urban" market
EPS "should be above $8 ... and will increase over time"
Share price is $68 (Bronte buying since <$40)
Also nice sneaker market overview
tinyurl.com/2s39j69d
HIBB "important partner" for $NKE, etc. as its City Gear stores key to US "urban" market
EPS "should be above $8 ... and will increase over time"
Share price is $68 (Bronte buying since <$40)
Also nice sneaker market overview
tinyurl.com/2s39j69d
Amer Sports on tulossa takaisin pörssiin. Listsutuminen jenkkeihin. Yhtiö lunastettiin aikoinaan 4,6 miljardin eur hinnalla suomen pörssistä.
January 4, 2024 at 2:27 PM
Amer Sports on tulossa takaisin pörssiin. Listsutuminen jenkkeihin. Yhtiö lunastettiin aikoinaan 4,6 miljardin eur hinnalla suomen pörssistä.
Hieman kaupankäyntiä: Salkkushortti $NORDEA. Vähensin hieman $CBAV ja ostin lisää $IMB
January 3, 2024 at 10:30 AM
Hieman kaupankäyntiä: Salkkushortti $NORDEA. Vähensin hieman $CBAV ja ostin lisää $IMB
Reposted by TuOki^
Harvard President Claudine Gay has resigned.
I've updated my story on why she was removed (right wing campaign against DEI) and how (mainstream media amplified the story until her position was untenable).
See Rufo's response below: it's open season now.
donmoynihan.substack.com/p/the-campai...
I've updated my story on why she was removed (right wing campaign against DEI) and how (mainstream media amplified the story until her position was untenable).
See Rufo's response below: it's open season now.
donmoynihan.substack.com/p/the-campai...
January 2, 2024 at 6:37 PM
Harvard President Claudine Gay has resigned.
I've updated my story on why she was removed (right wing campaign against DEI) and how (mainstream media amplified the story until her position was untenable).
See Rufo's response below: it's open season now.
donmoynihan.substack.com/p/the-campai...
I've updated my story on why she was removed (right wing campaign against DEI) and how (mainstream media amplified the story until her position was untenable).
See Rufo's response below: it's open season now.
donmoynihan.substack.com/p/the-campai...
Kirja koroista vnn1.online.fr/Cafeteria/Fi...
December 31, 2023 at 9:56 PM
Kirja koroista vnn1.online.fr/Cafeteria/Fi...
Reposted by TuOki^
"Nigerian competition watchdog fines British American Tobacco $110 mln" (Reuters)
"Allegations of market dominance abuse and infringement of public health regulations"
$BATS allegedly "had also penalised retailers for providing equal platforms for its competitors' products"
tinyurl.com/3ymdee4s
"Allegations of market dominance abuse and infringement of public health regulations"
$BATS allegedly "had also penalised retailers for providing equal platforms for its competitors' products"
tinyurl.com/3ymdee4s
reuters.com
tinyurl.com
December 28, 2023 at 10:14 AM
"Nigerian competition watchdog fines British American Tobacco $110 mln" (Reuters)
"Allegations of market dominance abuse and infringement of public health regulations"
$BATS allegedly "had also penalised retailers for providing equal platforms for its competitors' products"
tinyurl.com/3ymdee4s
"Allegations of market dominance abuse and infringement of public health regulations"
$BATS allegedly "had also penalised retailers for providing equal platforms for its competitors' products"
tinyurl.com/3ymdee4s
Reposted by TuOki^
$BATS seemed to have submitted PMTA for non-US Velo nicotine pouches in 22H1
22H1 call: "We have submitted a PMTA in the US for our superior, international Velo product range"
Typical 2-year timetable implies approval in 24H1
Writing as a BAT holder, this is unlikely to matter
22H1 call: "We have submitted a PMTA in the US for our superior, international Velo product range"
Typical 2-year timetable implies approval in 24H1
Writing as a BAT holder, this is unlikely to matter
December 25, 2023 at 11:00 AM
$BATS seemed to have submitted PMTA for non-US Velo nicotine pouches in 22H1
22H1 call: "We have submitted a PMTA in the US for our superior, international Velo product range"
Typical 2-year timetable implies approval in 24H1
Writing as a BAT holder, this is unlikely to matter
22H1 call: "We have submitted a PMTA in the US for our superior, international Velo product range"
Typical 2-year timetable implies approval in 24H1
Writing as a BAT holder, this is unlikely to matter
Reposted by TuOki^
$BATS: Europe as warning of what is to come
BAT Europe Adjusted EBIT
2018: £2,150m
2022: £2,082m
Ex-FX Europe Adj. EBIT growth was +3.3%, -2.4%, -1.0%, +7.5%; total 2018-22 growth = +2%
2023 reorg. merges Europe with LATAM to form AME so that Europe numbers no longer visible
BAT Europe Adjusted EBIT
2018: £2,150m
2022: £2,082m
Ex-FX Europe Adj. EBIT growth was +3.3%, -2.4%, -1.0%, +7.5%; total 2018-22 growth = +2%
2023 reorg. merges Europe with LATAM to form AME so that Europe numbers no longer visible
December 26, 2023 at 12:25 PM
$BATS: Europe as warning of what is to come
BAT Europe Adjusted EBIT
2018: £2,150m
2022: £2,082m
Ex-FX Europe Adj. EBIT growth was +3.3%, -2.4%, -1.0%, +7.5%; total 2018-22 growth = +2%
2023 reorg. merges Europe with LATAM to form AME so that Europe numbers no longer visible
BAT Europe Adjusted EBIT
2018: £2,150m
2022: £2,082m
Ex-FX Europe Adj. EBIT growth was +3.3%, -2.4%, -1.0%, +7.5%; total 2018-22 growth = +2%
2023 reorg. merges Europe with LATAM to form AME so that Europe numbers no longer visible
Reposted by TuOki^
Admiral $ADM to acquire More Than Home/Pet biz. (announced 7-Dec)
£82.5m upfront + £32.5m earn-out
Biz. had £165m GWP in 2022
Deal brings renewal rights, brand & ~300 staff
Existing liabilities stay with RSA
RSA UK (acquired by Intact in 2021) already exited UK Motor in Mar-23
£82.5m upfront + £32.5m earn-out
Biz. had £165m GWP in 2022
Deal brings renewal rights, brand & ~300 staff
Existing liabilities stay with RSA
RSA UK (acquired by Intact in 2021) already exited UK Motor in Mar-23
December 26, 2023 at 12:40 PM
Admiral $ADM to acquire More Than Home/Pet biz. (announced 7-Dec)
£82.5m upfront + £32.5m earn-out
Biz. had £165m GWP in 2022
Deal brings renewal rights, brand & ~300 staff
Existing liabilities stay with RSA
RSA UK (acquired by Intact in 2021) already exited UK Motor in Mar-23
£82.5m upfront + £32.5m earn-out
Biz. had £165m GWP in 2022
Deal brings renewal rights, brand & ~300 staff
Existing liabilities stay with RSA
RSA UK (acquired by Intact in 2021) already exited UK Motor in Mar-23
