Jul 30 2026
Food and beverage
Recent Research
Greggs plc, H1-26 update – solid profit delivery
Jul 29 2026
Danone, H1-26 update: solid delivery
Jul 29 2026
Meet your Food and beverage Research team
dsm-firmenich
Q2-26 organic sales and EBITDA ahead
Q2 results were better than expected for both organic growth and EBITDA. Strong volume growth was in evidence across all three divisions, with management noting an exceptionally good...
Symrise
Taste, Nutrition & Health activities driving better-than-expected performance in H1
Better-than-expected margin and sales delivery for Taste, Nutrition & Health (TNH) supported an EBITDA beat at group level in the period. Pet activities were back in Q2 but are...
Greggs plc
H1-26 update – solid profit delivery
Greggs delivered H1 like-for-like (LFL) growth of 2.1% (VA consensus: +2.3%, Q1: +2.5%, Q2 implied: +1.7%) across its company-managed estate. H1-26 profit growth was particularly strong...
Danone
H1-26 update: solid delivery
Danone delivered strong Q2 like-for-like (LFL) growth of +4.2% (VA: +3.7%), driven by pricing (+2.3%), with volume/mix improving sequentially to +1.9% (Q1: +1.5%; VA consensus: +2.2%)....
Kerry Group
H1 EBITDA in line; guidance maintained; 2030 targets launched
Kerry Group delivered Q2 volume growth of 3.5%, representing significant market outperformance and modestly ahead of our 2.9% forecast. EBITDA, at €558m, was in line. With volume growth...
SSP Group plc
Q3 update: unchanged guidance will reassure
SSP Group (SSPG) has issued its Q3 trading update. Overall, trading has been resilient in Q3 with like-for-like (LFL) growth of 4%. Importantly, the company has reiterated its full year...
Greencore Group
Concerns addressed; value unrecognised
We are increasing our FY26 adjusted operating profit forecast by c.4% to c.£240m, partly reflecting stronger self-help-driven profit conversion across both underlying businesses. We...
Cranswick plc
Q1 update – solid volume delivery
Cranswick had a healthy start to FY26 with Q1 reported growth of 5.5% (VA H1-27 consensus: 6.1%). This was supported by 8.2% volume growth, driven by broad-based growth across its...
Robertet
H1-26 trading update
Robertet has delivered a softer-than-expected first half with organic sales growth of 2.8% (Davy: +3.9%), decelerating through the period (Q1: +4.9%; Q2: +0.7%) against demanding...
Givaudan
H1-26 EBITDA in line, with strong performance across Fragrance activities
Givaudan has delivered a good Q2 with like-for-like (LFL) sales growth of 4.3%, which was modestly ahead of consensus – growth was volume led and driven by strong execution in...
