Jun 26 2026
Food and beverage
Recent Research
Kerry Group, Regulation supporting reformulation
Jun 19 2026
Meet your Food and beverage Research team
Glanbia
H1 preview – model update
Ahead of H1 results, we update our Glanbia model – positive consumption trends for Optimum Nutrition (ON), a stronger Q2 for Health & Nutrition (H&N) and strengthening tailwinds for...
Kerry Group
Regulation supporting reformulation
The global food and beverage industry is undergoing significant regulatory reform with many governments adopting or planning to adopt new regulations to improve diets, combat chronic...
SSP Group plc
Planes, trains and margin gains: initiating on SSP
SSP is a leading food and beverage concessions business, operating restaurants in airports and other travel locations through a mix of in‑house and franchised brands. It has a...
Origin Enterprises
Q3 trading update – executing in a volatile environment
Origin Enterprises’ trading update reflects solid execution in the seasonally important third quarter against a volatile macro environment. Supply chain challenges stemming from the...
Cranswick plc
Model update: significant poultry potential
We upgrade our Cranswick FY28 and FY29 adjusted operating profit forecasts by c.5%, reflecting higher Poultry forecasts and stronger medium-term profit conversion. While individual...
Greencore Group
Model update – thesis remains intact; share decline fundamentally unjustified
We broadly maintain our underlying UK adjusted operating profit assumptions for Greencore across our forecast period while increasing our free cash flow (FCF) forecasts in FY27 and...
Greencore Group
H1-26 results in line with market expectations
Greencore’s H1-26 results mark the first set of reported numbers for the combined group, with underlying trading proving resilient and resulting in an in-line operating profit result....
Dole plc
Model update – Middle East impacts; shares remain undervalued
We are lowering our FY26 and FY27 adjusted EBITDA forecasts by c.4% and c.2% respectively, reflecting the knock-on impact of the Middle East conflict and the lagged nature of...
Cranswick plc
Solid finish to FY26
Cranswick’s FY26 adjusted operating profit came in ahead of consensus at c.£237m (VA consensus: c.£232m, +c.2%), with adjusted operating margin improving sequentially to c.8.2% in...
C&C
Results in line with revised expectations
C&C’s FY26 EBIT out-turn was in line with revised expectations following its January trading update. The result reflects a very challenging backdrop for the Distribution activities...
