UK: UBS ups Heineken growth estimates
UBS has increased its 2007 growth estimates for Heineken. However, in a research note the investment bank said it was maintaining its "neutral 1" rating on the Dutch brewer.
The note said that UBS was upping its 2007 group organic volume growth estimate to 6% from 3.7%. Net sales were also revised upwards from 6.3% to 8.2%.
UBS said it was raising its estimate for group operating profit by 1% in 2007 and 0.4% in 2008.
However, the underlying net profit growth estimate for 2007 was lowered to 14.3% from 14.8%.
The UK Takeover Panel has set a deadline for Carlsberg and Heineken's pursuit of Scottish & Newcastle....
Carlsberg and Heineken have played down reports claiming that their latest offer for Scottish & Newcastle will be their final bid....
Savanna Cider, the South African cider brand owned by the Distell group, has appointed Anthony Mills as head of marketing with a brief to oversee its pan-European expansion....
Danish reports yesterday (6 December) have suggested that the head of the UK's largest trade union for brewery workers has sided with Carlsberg and Heineken in their attempts to acquire Scottish & New...
The head of Scottish & Newcastle has been quoted this week as saying he has a "bone to pick" with its joint venture partner, Carlsberg....
Heineken has won the race to acquire Serbian brewer Rodic....
Scottish & Newcastle has said it expects an arbitration ruling on its disagreement with Carlsberg over their joint venture to be made in June....
Kingway Brewery is the latest beer company to warn of commodity costs hitting its bottom line....
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