Key Drivers In Stock Growth Of "Big Tobacco"

 

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dc.contributor.advisor Van Walbeek, Cornelis
dc.contributor.author Fitchet, Max
dc.date.accessioned 2019-02-14T13:55:47Z
dc.date.available 2019-02-14T13:55:47Z
dc.date.issued 2018
dc.identifier.citation Fitchet, M. 2018. Key Drivers In Stock Growth Of "Big Tobacco". University of Cape Town. en_ZA
dc.identifier.uri http://hdl.handle.net/11427/29538
dc.description.abstract This study attempts to determine some of the key drivers in stock growth of BAT, IMB, JTI and PMI (“Big Tobacco”) which have seen strong growth in stock pricing from 2000 to 2016. The study uses a combination of financial statements and market related metrics to determine key trends. The results show that “Big Tobacco” has increased its share in the global market through acquisitions and diversification into the vaping and logistics markets. Share buy backs and increased margins have helped offset the decrease in cigarette consumption and have encouraged a bullish view of the industry. However, increasing dividend pay-out ratios, a falling cash conversion cycle and an increased tax burden suggest future difficulties. The market continues to price growth into “Big Tobacco” stocks, and while risk is low in the industry the same level of growth cannot be expected in the future without some changes in the sector. Further consolidation of the industry could provide more opportunity for investors.
dc.language.iso eng
dc.subject.other Economics
dc.title Key Drivers In Stock Growth Of "Big Tobacco"
dc.type Thesis / Dissertation
dc.date.updated 2019-02-14T07:44:42Z
dc.publisher.institution University of Cape Town
dc.publisher.faculty Faculty of Commerce
dc.publisher.department School of Economics
dc.type.qualificationlevel Masters
dc.type.qualificationname MCom


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