Archive for November, 2013

Tobacco stocks suffer, Ifa Magazine

Ifa Magazine Sector movers: Tobacco stocks suffer, Telecoms charge higher • Ifa Magazine.

On 21 Nov Philip Morris, one of the Big 4 tobacco companies predicted a 2-3% DECLINE for the tobacco sector in 2014, continuing the trend seen this year as tobacco has significantly underperformed the market.

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Public servants’ super fund scraps tobacco investments

Public servants’ super fund scraps tobacco investments.

News came through yesterday that yet another major public sector pension fund in Australia has pulled out of tobacco industry investments.  The fund Chief Executive said:

” said increased regulation of tobacco, such as plain packaging and tougher restrictions on where smoking is permitted, and the risk of further controls, had influenced the corporation’s decision to divest.”

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CWAC pension fund row over tobacco firms (From Northwich Guardian)

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Ifa Magazine Imperial Tobacco’s annual revenues decline • Ifa Magazine

Ifa Magazine Imperial Tobacco’s annual revenues decline • Ifa Magazine.

Imperial reported its latest results this week, but while the financial press focused on revenue and profit, with cost-cutting programmes boosting the latter, the fact of a SEVEN PERCENT decline in volumes was barely mentioned.  Imperial is not  alone in seeing volume declines, as tobacco control measures and the rapid increase in use of E-cigs are really biting on the core business.  if this pattern continues, cost-cutting can only go on so long.

If governments begin to take up the recent suggestions to cap wholesale prices of tobacco and cigarettes to address the monopoly position of many companies in developed markets , thus reducing company profitability sharply, then these companies will cease to be attractive investments.

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Time to stub out Norfolk Pension Fund tobacco investments, says MP – News – Norwich Evening News

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