Food and beverage

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Cranswick plc

Good start to the year against a challenging backdrop; full-year guidance reiterated

Cranswick has delivered a resilient H1 performance, with double-digit top-line growth and modestly lower operating profit (c.3% higher adjusting for non-recurring items). Q2 implied growth...

Origin Enterprises

Strong start to the year prompts 4% EPS upgrade

Origin’s Q1 statement confirms a strong start to the year. An early harvest and favourable on-farm sentiment helped underpin mid- to high-single-digit volume growth (off an elevated...

Glanbia

BellRing Brands Q4 results – FY23 guidance offers modest profit upside

BellRing reported FY22 results after close on November 17th. Q4 revenue growth of 11.5% was supported by ongoing significant pricing across both Premier Protein and Dymatize brands –...

Dole plc

Q3 results modestly ahead; FY22 EBITDA guidance moved to lower end of range

Dole’s Q3 EBITDA print was modestly ahead of expectations, underpinned by a strong performance in the North American banana business. On an underlying basis, Diversified Europe profits...

Glanbia

Building on core strengths

When we think of Glanbia’s evolution since its last Capital Markets Day (CMD), it is clear that the organisation has made fundamental changes as to how it operates. It has enhanced its...

Ingredients

IFF Q3 results – outlook dampened by tougher operating environment

IFF reported Q3 results on November 7th. Q3 organic revenue growth of +10% was buttressed by ongoing price increases, with volumes declining modestly. Market conditions have become...

Associated British Foods

Small beat on FY22; FY23 guidance reiterated; £500m share buyback announced

Associated British Foods’ (ABF) FY 2022 print was modestly ahead of our expectations, with a strong profit rebound driven by more normalised trading conditions at Primark. Of more...

Glanbia

Reassuring update as ON brand execution continues

Glanbia’s IMS confirms that Glanbia Performance Nutrition’s (GPN) organic growth momentum was sustained through Q3, led by the Optimum Nutrition (ON) brand family. Despite a record...

Danone

Reassuring update: growth supported by strong pricing

An uplift to FY22 revenue guidance primarily reflects Danone’s ongoing pricing activity and limited evidence of elasticity (in aggregate). The conference call shed limited light on 2023...

Ingredients

Corbion Q3 results – continued growth driven by pricing

Corbion’s Q3 update reflects continued growth across its core business activities, driven by ongoing price increases in its Food Solutions and Lactic Acid platforms. The third quarter...