Apr 24 2025
Recent Research
CVS Group, Disposal of crematoria division
Apr 24 2025
Danone, Strong start to FY25
Apr 23 2025
DCC, Disposal of DCC Healthcare
Apr 22 2025
Glenveagh Properties
Site visit highlights significant opportunity
Our recent site visit to Glenveagh’s largest Partnerships site demonstrated a business that is both well positioned in the current market and has significant growth opportunities in...
Givaudan
Consumer Products anchoring Fragrance & Beauty division
We attended Givaudan's recent Spring Investor Conference, which showcased its Consumer Products (CP) fragrance segment. The event reaffirmed our positive view on the growing breadth...
Cranswick plc
Breaking the piggy bank
Cranswick’s proposed step-up in capital investment signals clear intent towards future growth in a market increasingly characterised by underinvestment, further deepening its...
Travis Perkins plc
The long and winding road
Travis Perkins is likely to continue to stimulate considerable debate for the foreseeable future. Take your pick: a vigorous recovery play or further disappointment. The bull case is...
Irish banks
Well placed in an uncertain world
Starting positions are always critical when faced with uncertainty. We find Irish banks to be in strong positions facing into trade war-induced global macro headwinds. Risk metrics on...
dsm-firmenich
Anchored in science, guided by sustainability
We attended dsm-firmenich’s recent ESG Expert Investor Event, which took place in Kaiseraugst, Switzerland. Our key takeaway is that sustainability is positioned as a core lever for...
UK economy
Government banking on growth to avoid future welfare cuts
There were few surprises in the Spring Statement as weaker growth and higher borrowing costs limited the Chancellor’s scope for new policies. Well-flagged adjustments to last...
Uniphar
Upgrading forecasts and revisiting the investment case
Following the recent share buyback, we are upgrading our Uniphar EPS forecasts by 3% in both 2025 and 2026. We upgraded by 2% in January. EPS could accelerate higher post completion...
Volution
That healthy air of earnings upgrades
The transformative acquisition of Fantech has not distracted Volution from business as usual: recent interim results have prompted another chunky upgrade to financial estimates. While...
