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Post says increased earnings expected
Sleeman Breweries Ltd ALE
Shares issued 13,284,680 Aug 18 close $7.80
Wed 19 Aug 98 In the News
Buy & Sell columnist Sonita Horvitch says in the Wednesday edition of the
Financial Post that Sleeman Breweries is a top stock pick of Martin Hubbes,
vice-president and portfolio manager at AGF Management. Ms Horvitch notes
the stock, currently $7.40, has a 52-week range of $9.10 to $5.40. The
Guelph, Ontario-based company produces bottled and draft beer. Mr Hubbes
says it is the dominant microbrewer in Canada. Sleeman has a solid
marketing strategy and a brand that is recognized across the country. It is
also developing strong regional brands. Mr Hubbes says the stock is a play
on demographics, as aging boomers turn to more sophisticated suds. Earnings
per share estimates are 40 cents for 1998 and 53 cents for 1999. Overall,
Mr Hubbes says that a more realistic assessment of corporate Canada's
earnings prospects is fuelling the correction on the Toronto Stock
Exchange. He says that although earnings growth could be slower than what
was originally expected, he is still quite positive on the TSE, taking an
18-month view.
(c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com
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