Groupe Bruxelles Lambert and Raubex
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Rowan Williams from Nitrogen Fund Managers chose Groupe Bruxelles Lambert as his stock pick of the day and Alex Duys from Umthombo Wealth chose Raubex.
Williams said: "A company called Groupe Bruxelles Lambert (GBL), it's actually listed in Brussels and it is a family driven holding company. It has significant stakes in European Consumer stocks like Adidas and Pernod Ricard and then big stakes in Lafarge wholesome which is a cement manufacturer so it's quite a diversified group and is trading at a significant discount to NAV of around 35%."
Duys said: "I'm going to go for Raubex, we saw the results yesterday which indicated that tender activity obviously has picked up quite a lot as well as their order book which was up almost 70%. I think the comment made by the CEO is that they've seen the most tender activity in almost 50 years, that tells you that something is happening on the ground and they're specifically doing well in the Sanral and road work side so that book is almost full which means only new business will come in and it will be at higher margins."
Williams said: "A company called Groupe Bruxelles Lambert (GBL), it's actually listed in Brussels and it is a family driven holding company. It has significant stakes in European Consumer stocks like Adidas and Pernod Ricard and then big stakes in Lafarge wholesome which is a cement manufacturer so it's quite a diversified group and is trading at a significant discount to NAV of around 35%."
Duys said: "I'm going to go for Raubex, we saw the results yesterday which indicated that tender activity obviously has picked up quite a lot as well as their order book which was up almost 70%. I think the comment made by the CEO is that they've seen the most tender activity in almost 50 years, that tells you that something is happening on the ground and they're specifically doing well in the Sanral and road work side so that book is almost full which means only new business will come in and it will be at higher margins."