Jun 30 2022
Food and beverage
Recent Research
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Associated British Foods
Primark store visit highlights model relevancy and laser focus on price leadership
Primark’s “obsessional focus” on price leverages a highly efficient supply chain and operating model and offers a defensive moat against a challenging economic circumstance....
Science in Sport
Raising the bar: Mondelez acquires CLIF for 3.6x sales
Mondelez’s acquisition of CLIF Bar (CLIF) materially expands its healthy snacking platform and creates a scale player in an attractive nutrition category. The deal follows the recent...
Associated British Foods
Primark improvement anchored by core markets; full-year guidance reiterated
Key takeaways from Associated British Foods’ (ABF) Q3 statement include: (1) continued like-for-like (LFL) momentum at Primark through the period – with the quarterly exit rate at...
Origin Enterprises
Favourable conditions through key application season prompt further upgrades
Despite some recent volatility, continued favourable nutrition pricing has underpinned strong performance through the key application season. The accelerated Q3 release prompts a...
Science in Sport
CFO departure
Science in Sport (SIS) has announced that Chief Financial Officer (CFO) James Simpson has tendered his resignation in order to pursue another opportunity. During his tenure, Simpson...
DSM
Firmenich merger – step-change in DSM evolution
The merger of DSM and Firmenich is a major development for the fragrance and flavour (F&F) industry. In a world of integrated solutions allied with greater portfolio reach and...
C&C
Elevating growth ambitions – key takeaways from Capital Markets Day
C&C delivered a growth-oriented message at its recent Capital Markets Day (CMD). Growth delivery is aligned with an upweighting of brand investment and greater technology adoption...
ARYZTA
Volume beat prompts full-year revenue guidance upgrade
Revenue momentum continued through Q3 with underlying growth of +22.6%. The beat versus the street was largely volume driven, with volumes back to pre-COVID levels across most...
Dole plc
Q1 broadly in line; full-year outlook impacted by FX and salads headwinds
Dole’s Q1 statement reflects the impact of the previously flagged bagged salads recall and lower banana pricing (exceptional comparative), with adjusted EBITDA down 38% in the quarter....
Greencore Group
Solid H1 print; FY22 guidance reiterated
Greencore’s H1 print highlights an acceleration in top-line momentum through the period, with like-for-like revenue growth across the key food-to-go (FtG) category of +8% (Q1 +6%, Q2...
