Food and beverage

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Associated British Foods

Investigating Primark USA

While we remain optimistic on the trajectory of Primark’s growth and profitability, we note that its US expansion remains a source of debate among the investment community. Our...

Symrise

A tale of two factors (revenue and margin)

2023 was a mixed bag for Symrise – strong pricing-led revenue growth was offset by margin headwinds for the second consecutive year, with the latter landing at the lower end of its...

Glanbia

Running at the right cadence

Glanbia’s flagship brand, Optimum Nutrition (ON), is finding its operating stride. The ON growth algorithm strikes a healthy balance between brand investment (marketing / promotion /...

Origin Enterprises

Challenging weather backdrop prompts full-year downgrade

Origin Enterprises’ H1-24 result reflects challenging on-farm conditions across its UK/Ireland markets. Group operating profit declined to €12.7m from €20.3m in the prior year period....

Treatt plc

CEO appointment

Treatt has opted for an external candidate with industry experience as its next CEO. David Shannon joins from Croda and will assume the CEO role on June 3rd 2024. Ryan Govender and...

Symrise

New CEO appointment

After 15 years at the helm of Symrise, Dr Heinz-Jürgen Bertram has announced his retirement. The retirement comes earlier than expected as Dr. Bertram’s current contract runs until...

Dole plc

FY23 results – well positioned for FY24 delivery

Dole’s full year profitability came in strongly above its guidance, beating consensus forecasts (c.$375m). Dole has announced the sale of its 65% stake in Progressive Produce for...

Danone

FY23 results and FY24 guidance in line

Danone’s FY23 results were in line with market expectations. Group volume/mix growth turned positive in Q4-23, supported by strong progress made in EDP Europe and a solid volume...

DSM-Firmenich

Q4 results in line; FY24 EBITDA guidance of ‘at least’ €1.9bn

DSM-Firmenich delivered FY23 profitability in-line with market expectations. The group has initiated the separation of its Animal Nutrition & Health (ANH) division, aiming to reduce future...

Kerry Group

FY23 EPS in line; strong free cash; guiding 5-8% EPS growth for FY24

Kerry’s FY23 result was in line with its guidance range. The adjusted EPS result of 430.1c compares with Visible Alpha consensus of 432c. The business advanced the EBITDA margin...