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(Reuters) - McLaren have signed a partnership with Coca-Cola until the end of the season that will see the soft drinks company’s brand appear on a Formula One car for the first time, the team announced on Thursday. McLaren added that Coke’s sub-brands Dasani Sparkling and SmartWater would also feature on their two cars in the three remaining Grand Prix races in the U.S., Brazil and Abu Dhabi. The team did not disclose financial details of the deal. “Coca-Cola has a rich history of sponsorship and a record of innovative activations and we’re honored the company has chosen to partner with McLaren to explore opportunities in Formula One,” McLaren Racing Chief Executive Officer Zak Brown said.
LONDON (Reuters) - Philip Morris International (PM.N), maker of Marlboro cigarettes, maintained its full-year guidance on Thursday after higher pricing helped it to report better than expected quarterly sales and profit, Shares of the company rose 4.7 percent in New York, although black cufflinks the unchanged outlook signals weakness in the current fourth quarter, “With full year guidance unchanged you will expect a give back,” Jefferies analysts said in a note, “Nonetheless, optically a 12 percent beat always looks good and it should support today.”..
Sales were helped by market share gains and pricing increases, the company said. Philip Morris is pinning its hopes for the future on its IQOS device, which heats tobacco instead of burning it, thereby producing a vapor instead of smoke. It says this is less dangerous than smoking. However, the company has previously cut its full-year forecast twice this year, citing currency fluctuations and slower IQOS sales. Shares in Philip Morris also fell this week after rival British American Tobacco (BATS.L) cut its full-year revenue target for cigarette alternatives such as vaping pens and tobacco heating devices, citing a flat market in Japan and a product recall in the United States.
Philip Morris stood by its 2018 forecast for diluted earnings per share black cufflinks of between $4.97 and $5.02 at prevailing exchange rates, Excluding currency fluctuations, it said its forecast represented growth in adjusted earnings of 8-9 percent, The company expects sales to fall 5 percent in the fourth quarter, compared to the year earlier period, and earnings to be hurt by greater investment in its new IQOS models, It reported third-quarter earnings per share of $1.44, ahead of $1.27 in the same period last year and analysts’ average estimate of $1.28, according to I/B/E/S data from Refinitiv..
Net revenue was $7.5 billion, up 0.4 percent, held back by currency fluctuations. Analysts had expected $7.17 billion. Total volume of cigarette and heated tobacco units was 203.7 billion, down 2.1 percent. Excluding the impact of estimated distributor inventory movements, volume was up 1.1 percent, the company said. The company said distributors in Japan reduced inventories of existing IQOS products ahead of the launch of new models of the device, which heats up small tobacco sticks. Nonetheless, the company said worldwide sales of its heated tobacco units was set to almost double this year, and it continued to expect shipments of 41 billion to 42 billion units.
WARSAW (Reuters) - Ryanair (RYA.I) will press ahead with plans to move Polish staff on to self-employed contracts, Ryanair’s Chief Marketing Officer Kenny Jacobs said in an interview with Reuters, Ryanair, Europe’s largest low-cost carrier, is already trying to cope with an industrial relations revolt across the region, with pilots black cufflinks and cabin crew staging strikes in several countries over employment conditions, In Poland, a union representing Polish cabin crew has refused to sign the new contracts which the company’s local subsidiary wants to introduce..
But Jacobs said the new contract reflected the local market. “It’s the local type of contract, the same as (national Polish carrier) LOT and other airlines,” Jacobs said. Many Polish Ryanair staff are currently on contracts provided by the parent company, but are being asked to transfer to the new contracts as Ryanair’s main operation in Poland is handed to Ryanair Sun, a local subsidiary. Paulo Conceicao, secretary of the Polish cabin crew union, CWR, who works as cabin crew at Ryanair, told Reuters that the self-employed contract would mean staff would lose important rights such as sick pay and maternity leave.
“All the rights embedded into your labor contract are liquidated,” he said, Analysts have said that the transfer to self-employed contracts gives airlines more flexibility and will save them money, Jacobs said staff would get higher salaries as a result of the shift and could also be relocated elsewhere in Europe if they are not satisfied with the contracts, Ryanair employs 400 cabin crew in Poland, according to the union, black cufflinks of which about three-quarters are union members, Ryanair staff have received support from unions representing workers from Poland’s state-run airline LOT, who went on strike on Thursday over working conditions..