Mar 23 2023
Food and beverage
Recent Research
Origin Enterprises, Strong start to FY23
Mar 7 2023
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C&C
Pre-close trading update
C&C expects to deliver EBIT of €84m for FY23, which is €2m below our forecast due to unanticipated costs relating to the recent ERP roll-out. We will leave our FY24 EBIT forecast...
Dole plc
FY22 results – resilient performance and outlook
Dole’s full-year results were in line with its guidance and c.2% ahead of our forecasts, supported by a robust fourth-quarter performance in the Fresh Fruit segment. The FY23 outlook...
Origin Enterprises
Strong start to FY23
Strong first half profit delivery allied with a favourable planting and crop establishment profile, sets a good foundation ahead of the seasonably more important H2. We envisage lifting...
ARYZTA
Further improvements baked into FY23 guide – upside to current forecasts
ARYZTA’s interim results reflect impressive volume growth despite significant pricing, with the H1 margin bolstered by improved operating leverage as a result. Input cost inflation remains...
Associated British Foods
Pre-close update – improved FY23 outlook
Associated British Foods’ (ABF) pre-close H1 FY23 statement underpins a healthy performance in Primark, with improved trading supporting an anticipated operating margin of “above 8%”. ...
Associated British Foods
Primark-driven upgrades
Primark’s price leadership model and retail proposition are driving market share growth in the UK. Improving sales densities are anticipated to positively impact margin rebuild at Primark...
Kerry Group
FY22 results preview – updating model for FX and disposal
Kerry will report FY22 results on February 16th. We expect the results to confirm a year of strong execution against unprecedented inflation and supply chain pressures. Raw material...
Treatt plc
AGM trading update
Treatt has released a brief trading update ahead of its AGM. It confirms a ‘good’ start to the year with progress on margin and 3% constant currency sales growth. Trading is in line...
Greencore Group
Q1 update – downside to current forecasts
Greencore’s Q1 performance was enervated by the impact of ongoing UK industrial actions and persistent inflation headwinds, with profit conversion coming in below expectation. Volumes in...
Symrise
FY22 profitability lower than expected
At close of market on Friday January 20th, Symrise released preliminary headline figures for FY22 and announced a €126m loss relating to its interest in Swedencare. Organic growth...
