Apr 23 2025
Food and beverage
Recent Research
Cranswick plc, Breaking the piggy bank
Apr 15 2025
Meet your Food and beverage Research team
Danone
Strong start to FY25
Q1 like-for-like (LFL) growth came in above consensus estimates at +4.3% (Visible Alpha: +3.9%), supported by healthy growth in volume/mix across all categories. Danone has continued to...
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...
Treatt plc
Profit warning following challenging Q2
Following an in-line Q1 update at the end of January, Treatt now expects H1 revenues to be down 11% year-on-year (yoy) and a £4m yoy decline in profit before tax (PBT) to...
Givaudan
Strong start to FY25 with Fragrance and high growth markets the standout
Givaudan is off to a strong start this year, achieving 7.4% growth in comparable sales for Q1. Despite high comps, its Fragrance division maintained impressive growth rates. Growth in...
Food
Good Q1 expected amidst growing uncertainties and volatility
Givaudan kicks off Q1 results season for the Ingredients sector on Thursday, April 10th. For the sector, we expect above market volume growth for Food & Beverage-related activities,...
Greencore Group
Agreement reached on Bakkavor acquisition
Greencore has announced an agreement in principle to acquire Bakkavor, maintaining its cash offer while increasing the equity component from 0.523 to 0.604 Greencore shares per...
Greencore Group
Q2 trading update – guidance upgrade
Q2-25 saw continued revenue and volume momentum, supported by growth with existing customers and new wins from FY24. Profit conversion exceeded expectations, driven by operational...
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...
AG Barr
Outlook for FY26 positive
AG Barr is expected to sustain mid-single-digit (MSD) organic growth through FY26, continuing to stand out in a more challenging market. Strong continued delivery of its self-help...
