Mar 31 2026
Food and beverage
Recent Research
Treatt plc, H1-26 trading update
Mar 26 2026
dsm-firmenich, Key takeaways from Investor Day
Mar 25 2026
Meet your Food and beverage Research team
AG Barr
Strong set-up for FY27 underpins healthy medium-term guidance
AG Barr has entered FY27 with good momentum and expects to deliver double-digit % revenue growth, supported by its recently announced acquisitions. Over the medium term, AG Barr...
Treatt plc
H1-26 trading update
Treatt has issued a brief trading update for H1-26 that coincides with its AGM. Trading year-to-date (YTD) was in line with management’s expectations, with a seasonally quiet Q1 followed...
dsm-firmenich
Key takeaways from Investor Day
With its portfolio transformation complete, the emphasis shifts to growth execution. A roadmap to 2028 was presented with revenue and margin targets unchanged. The mid-point of 2028...
Ingredients
Q1 model updates – slow start to 2026 expected in an uncertain environment
Ahead of Q1 results, we update our Givaudan, Symrise and Kerry Group models. Top-line forecast changes reflect a subdued consumer environment, with the conflict in the Middle East...
dsm-firmenich
FY26 guidance in line; medium-term targets reaffirmed with phased delivery
Ahead of its Investor Event today, dsm-firmenich has outlined FY26 guidance of 2-4% organic sales growth and an adjusted EBITDA margin of around 20%, broadly in line with our...
Dole plc
Model update – well positioned in FY26 and FY27
We maintain our adjusted EBITDA forecasts for FY26 and FY27 at $422m and $450m respectively, with a recovery in Fresh Fruit and continued strength in the Diversified business...
Symrise
FY25 results modestly ahead; 2026 guide in line but slow start expected
Strong margin delivery, supported by cost savings, resulted in a 2% EBITDA beat for Symrise in 2025. Cash metrics were healthy. 2026 guidance is along expected lines, reflecting...
Food and beverage manufacturers
Private label growth: a detailed study
Private label now accounts for c.61% of total UK grocery sales by volume. What was once positioned primarily as a value lever has evolved into a central driver of retail growth as...
Greggs plc
FY26 outlook maintained
Current trading in early 2026 has been soft, with like-for-like (LFL) growth +1.6% (Visible Alpha H1-26: +2.5%). At this early stage, management has maintained its guidance for FY26 and...
Origin Enterprises
Solid H1-26 performance – crop development progressing
In the seasonally quieter first half, Origin Enterprises delivered modest EBITA growth. Profit growth across Ireland/UK and Latin America was partly offset by Central Europe. On-farm...
