Oct 3 2024
Food and beverage
Recent Research
AG Barr, Outlook underpinned
Sep 26 2024
AG Barr, Strong H1 delivery
Sep 24 2024
AG Barr, Raising the Barr
Sep 19 2024
Meet your Food and beverage Research team
Cranswick plc
Model update – FY25 and FY26 forecast upgrades
We believe Cranswick’s continued share and volume growth signal a fundamental shift in the competitive landscape, with the company’s deepening moat fortifying its position as a market...
dsm-firmenich
Sustaining operating momentum allied with one-off vitamin benefits
We update our dsm-firmenich (DSFIR) model to reflect dislocation in the vitamin complex following the declaration of a force majeure from BASF on August 7th. For Q4, we estimate a...
Cranswick plc
Strong H1 performance underpins full year upgrade
Following its strong Q1-25 volume growth of c.7%, Cranswick has sustained this momentum throughout Q2-25, with H1-25 trading exceeding initial expectations. Management now anticipate its...
AG Barr
Outlook underpinned
Following AG Barr’s H1-25 update we envisage limited changes to our current and medium-term forecasts. Given its strong execution to date and noting the added clarity provided around...
AG Barr
Strong H1 delivery
AG Barr has delivered a strong H1-25 performance, with top line growth supported by a robust delivery from its Rubicon and IRN-BRU brands. H2-25 trading momentum across its core...
Origin Enterprises
EPS at upper end of guidance range
A stronger-than-expected finish to FY24 drives a 5% EPS beat for Origin. The outturn is highly commendable in the context of exceptionally challenging on-farm conditions during the...
AG Barr
Raising the Barr
We are broadening our consumer coverage with the initiation of AG Barr plc, a leading provider of branded beverages known for its operational acuity and strong product portfolio. With...
Givaudan
Model update ahead of Q3 sales update
For Q3-24 we expect another positive update from Givaudan with operating momentum sustaining from H1. Both divisions are expected to deliver above market growth with Fragrance &...
THG plc
FY24 profit guidance lower; potential demerger of THG Ingenuity
H1-24 profitability came in materially lower than consensus expectations, driven primarily by softness in the THG Nutrition division. While headwinds impacting first-half performance have...
Symrise
Management changes; on track for FY24
Symrise has announced that Jörn Andreas, its President of Scent & Care (S&C), is leaving the business after 13 years – he had been muted as a potential successor to the previous...
