diamonds & dogs
JAMIE CARR: BAT putting out fires
BAT’s decision to pay US$49.4bn for Reynolds American requires cojones the size of watermelons
ELB weathering the stormUnder the current economic circs, if you run into a company that claims to be hitting it out of the park, you could be dealing with a micro-cap with acres of market share to claim, a disrupter of traditional industries, a complete fantasist, a scuttler for foreign fields, or the elusive rainbow unicorn. Things are tough, and the companies that many a risk-averse investor will be hunting for are those that accept this and tailor their business models accordingly. This will enable them to bound back if and when the economy ever perks up. ELB’s latest results show an outfit that is in one of the hardest-hit niches, providing engineering services to the mining and industrial sectors in Africa and Australasia. Yet it has done an exemplary job in rightsizing and repositioning the group to return it to profitability, despite the challenges of trading conditions, political uncertainty and currency volatility. Meanwhile it has been developing projects involving vertic...
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