Bénéteau shares up 8% today.

As a not insignificant part of Beneteau Group's market is the UK then if the chief exec is financially literate he should be letting his political masters know that forcing a bad or no deal on the UK in the forthcoming political shenanigans that I won't name will be bad for his company & bottom line.
 
E39mad said:
Let's hope they are not from the Christene Lagarde school of finance ;)
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Christine Lagarde :

At 43, a woman, and French, she becomes president of Baker McKenzie, the world's largest law firm.

Ex French Minister of Finance.

Head of the IMF.

Represented France in swimming.

A remarkable woman.
 
AngusMcDoon said:
As a not insignificant part of Beneteau Group's market is the UK then if the chief exec is financially literate he should be letting his political masters know that forcing a bad or no deal on the UK in the forthcoming political shenanigans that I won't name will be bad for his company & bottom line.
Click to expand...

I don't know what percentage of Bénéteau sales occur in the UK but I would imagine that UK sales would not be a breaker for them. OTOH the economic downturn as a result of Brexit will have much wider ramifications than just in the UK.

Bénéteau has been building boats for 135 years and is now the world's larges manufacturer of pleasure craft. They built over 10000 boats last year - as well as over 10000 mobile homes.

Sail boats represent 44% of their activity and they have twenty seven construction sites in France and abroad : USA, Brazil, Poland, Canada, Portugal....

They have 8233 employees and are in the process of recruiting a further 600.
 
E39mad said:
Yes remarkable enough to be convicted of here part in a 400 million Euro French Govt pay off to businessman.

This would have finished most people but for some unbeknown reason she is being appointed (not elected) as the head if EU finance!!
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For those that know the story IMHO the amount due to him was in that ball park. His real crime was being a very successful business man who just also happened to be a Socialist minister.

When times were very tight the bank squeezed him out of Adidas. It just happened that they had a willing buyer for it at a price which was multiple of what they gave him.

Christine Lagarde (as a very experienced lawyer) saw that the government had a fight on its hands which they were very capable of losing and so arrived at a pragmatic transaction to settle the case. His position was that his prejudice was two or three times that amount, but, being a realist, settled the amount quickly in order to avoid years of draining litigation.

PS she was not convicted of any crime. She received a reprimand for her judgement and I must say that I would be on her side. However politics is politics...
 
E39mad said:
This would have finished most people but for some unbeknown reason she is being appointed (not elected) as the head if EU finance!!
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Good thing we don't live under a regime with an unelected second chamber that can provide the government with (not elected) ministers. Or one in which 150,000 people can chose a head of government with a background that would have finished most people.
Oh wait, we do.
 
Can somebody explain why one quarters financial results have any impact on anything? A long time ago I worked for one of the "Big 4" and my wife us a member of two professional accountancy institutes; the usual question was/is how much profit does the board want to make.

If the company are not making money after recent hurricanes in the Caribbean then their senior management needs replacing by close of business today.
 
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