Nov 25 2025
Food and beverage
Recent Research
Treatt plc, Chief Executive steps down
Nov 25 2025
Glanbia, New three-year targets announced
Nov 19 2025
Associated British Foods, Model update
Nov 12 2025
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Cranswick plc
Solid H1-26 outcome
Cranswick delivered a strong performance in H1-26, with like-for-like growth of 7.9% (reported: +10.4%). Combined with margin expansion to 7.7%, this resulted in an adjusted operating...
Treatt plc
Chief Executive steps down
Treatt has announced that David Shannon will step down as Chief Executive and Director on December 31st 2025. This follows a challenging year for the group, marked by two profit...
Origin Enterprises
Q1 trading update – solid start to FY26
Q1-26 presented a solid start for Origin Enterprises as Agriculture volumes improved year-on-year (yoy). Drier autumn conditions in the UK supported an accelerated start to drilling...
Glanbia
New three-year targets announced
Ahead of its Capital Markets Day, Glanbia has released an enterprising set of three-year targets that strike a good balance between ambition and achievability. Divisional targets...
Greencore Group
Solid finish to FY25; sale of Bristol site; confident tone on FY26 outlook
Greencore finished the year with strong FY25 adjusted operating profit delivery of c.£126m (Davy: £125m). Current trading in early FY26 has started positively, with management guiding...
Associated British Foods
Model update
We are cutting our adjusted EPS forecasts by c.3% and c.2% for FY26 and FY27 respectively. The recent strategic review, which could result in a separation of Primark from the Food...
Origin Enterprises
Appointment of Chair-Designate
Origin Enterprises has announced the appointment of John Hennessy as an independent non-executive director and Chair-Designate, effective January 1st 2026. Hennessy succeeds the...
Dole plc
Strong Q3 outcome; FY25 EBITDA guidance raised; $100m buyback authorised
Dole delivered a solid Q3 performance, with like-for-like (LFL) revenue growth up 8.2% and adjusted EBITDA of c.$81m coming in c.2% ahead of consensus. Given its resilient Q3-25...
Greencore Group
CMA in principle accepts proposed remedy
The Competition and Markets Authority (CMA) has in principle accepted the proposed remedy in lieu of a Phase 2 investigation, which will enable completion of the Bakkavor acquisition in...
Glanbia
Impressive Q3 for flagship protein brands, guiding to upper end of EPS range
Double-digit volume growth for Optimum Nutrition (ON) and Isopure for Q3 confirms brand strength and category health. The ON volume print was materially ahead of our forecast. The Q3...
