Heineken Holding N.V
Heineken Holding N.V. was up 10% in August following strong operational performance. Volumes grew 3% over the quarter, pricing was robust at 1.8% and the company was able to cut significant costs from their operations. This resulted in EBIT growth of 13%, which was ahead of market estimates. The growth in margins was pleasing, and the subsequent announcement of a targeted 40 basis points growth in margins per annum over the coming years, assisted in bolstering the stock price.
PM Capital
We aim to build long term wealth together with our co-investors by finding and exploiting investment anomalies around the world, using a focused, patient and considered approach to finding simple investment ideas.
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