City briefs
- It has been reported that Capital Management and Investment, the UK-listed cash shell, is said to be considering investment in the pubs sector. The fund has up to £41.3m in cash to spend and CMI chairman Alan McIntosh has said he is looking into acquisitions. Mr McIntosh is a close associate of Hugh Osmond, the Punch Taverns entrepreneur. Mr Osmond is also a significant shareholder in CMI.
Springhead Brewery, the Newark-based regional brewer, has just recorded its best year ever. Cask sales for the 12 months ending December 2002 were 72 per cent up on the previous year. The company also said sales had doubled in January on the previous year. The company is also launching a new ale called Newark Castle Brown.
Reports have linked Belgian brewer Interbrew with a bid for Italian lager Peroni. The maker of Stella Artois is in talks to buy a 40 per cent stake. Other bidders thought to be in the frame include Carlsberg and Scottish & Newcastle.
Coca-Cola has been voted the fourth most respected company in the world, in a survey of 1,000 chief executives across the globe. General Electric and Microsoft topped the index. Conducted jointly by The Financial Times and Price Waterhouse Coopers, the survey found that Bill Gates and Jack Welch were the most respected business leaders.
The Australian brewing and wine company Foster's Group posted a first-half net profit of A$335.3m, 4.1 per cent up on last year. It said an improved performance from its core Australian beer operations had offset slower growth in its global wine business. Revenues rose by six per cent from A$2.53bn to A$2.68bn.
