Log in
Forgot password ?
Become a member for free
Sign up
Sign up
Dynamic quotes 

4-Traders Homepage  >  Equities  >  London Stock Exchange  >  British American Tobacco    BATS   GB0002875804

News SummaryMost relevantAll newsSector newsTweets

British American Tobacco plc : British companies' hiring set to slow: surveys

share with twitter share with LinkedIn share with facebook
share via e-mail
06/12/2012 | 10:31am CET

British employers expect to take on fewer new staff in the months ahead, a report by recruitment firm Manpower Group showed on Tuesday, chiming with another survey indicating that growth in permanent job placements slowed in May.

While the polls highlight the risk that the recent fall in unemployment will not last, they also show some unexpected resilience at a time when the economy is back in recession and the euro zone debt crisis is renewed fresh dangers.

"When you're going head to head with a return to recession at home and a burgeoning euro zone crisis, by rights the jobs market should be in free fall - but that's not what we're seeing," Manpower's UK managing director Mark Cahill said.

"Firms are still looking to hire, albeit at a weaker pace than before."

Manpower's seasonally adjusted employment outlook balance ticked down to +1 for the third quarter of this year from +2 in the second.

But Cahill warned that many companies were cautious because of the huge uncertainty about the euro zone. "It is a wait-and-see attitude," he told Reuters.

A survey from the Recruitment and Employment Confederation (REC) and consultancy KPMG showed that the number of permanent placements grew in May at the slowest pace so far this year and the number of vacancies also increased at a slower rate.

"Clearly the economic backdrop and the euro zone crisis are making some employers think twice before taking on new staff," said REC chef executive Kevin Green.

"Looking ahead, it's likely that unemployment figures will rise over the next few months as another wave of young people leave education," Green said. "We have a weakening jobs market which will only improve once demand returns to the economy."

Britain's economy fell back into recession around the turn of the year and while unemployment has fallen in recent months, the outlook remains tough as the government is axing hundreds of thousands of public sector jobs in its attempt to erase a huge budget deficit.

The quarterly Manpower survey showed hiring expectations worsened in four out of nine industry sectors for the third quarter compared with the second quarter. Of the four sectors that expected to take on new workers, financial services and utilities reported the strongest hiring intentions.

Manpower said this could be due to one-off factors, such as banks taking on staff to handle complaints related to the misselling of Payment Protection Insurance. In the utilities sector, hiring intentions may have received a boost from plans to construct a new power plant.

(Reporting by Sven Egenter and Fiona Shaikh)

share with twitter share with LinkedIn share with facebook
share via e-mail
05:59p Retail gloom helps to end six weeks of FTSE gains
12:54a BRITISH AMERICAN TOBACCO : Patent Issued for Smoking Article and a Method of Man..
01/17 Japan Tobacco working on several possible M&A deals - CEO
01/11 BRITISH AMERICAN TOBACCO : Patent Issued for Smoking Article Wrapper and Method ..
01/10 BAT PROJECTS $540M BOOST FROM TAX CU : $540M benefit this year thanks to cut in ..
01/09 BRITISH AMERICAN TOBACCO : Impact on British American Tobacco of new US tax legi..
01/09 BRITISH AMERICAN TOBACCO : BAT sees lift from U.S. tax change, plans to reinvest..
01/09 BRITISH AMERICAN TOBACCO : Impact on British American Tobacco of new US tax legi..
01/09 BRITISH AMERICAN TOBACCO : U.S. Tax Reform Will Boost 2018 EPS by 6%
01/04 BRITISH AMERICAN TOBACCO : Patent Issued for Aerosol Generator (USPTO 9848642)
More news
News from SeekingAlpha
08:30a Philip Morris, Altria up more than 1% on upgrades
01/11 PHILIP MORRIS : Is It Time To Quit?
01/09 British American Tobacco updates on tax changes
01/02 Half Million Dollar Income Portfolio - A New Year With The Same Ideals
2017 YUMMY, YUMMY : DineEquity Serves It Up With All The Fixins
Financials ( GBP)
Sales 2017 20 554 M
EBIT 2017 8 139 M
Net income 2017 6 911 M
Debt 2017 43 531 M
Yield 2017 3,71%
P/E ratio 2017 15,11
P/E ratio 2018 16,20
EV / Sales 2017 7,64x
EV / Sales 2018 5,78x
Capitalization 114 B
Duration : Period :
British American Tobacco Technical Analysis Chart | BATS | GB0002875804 | 4-Traders
Technical analysis trends BRITISH AMERICAN TOBACCO
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 19
Average target price 57,6  GBP
Spread / Average Target 16%
EPS Revisions
Nicandro Durante Chief Executive Officer & Executive Director
Richard George William Burrows Chairman
Alan Davy Director-Group Operations
John Benedict Stevens Executive Director & Finance Director
David O'Reilly Group Scientific Director & Director-Research
Sector and Competitors
1st jan.Capitalization (M$)
ESSENTRA-3.78%1 863
PHILIP MORRIS CR, A.S.--.--%1 565