Mar 10 2026
Recent Research
Kenmare, Update on Implementation Agreement
Mar 9 2026
Irish economy
Q4 national accounts show strong economic growth in 2025
The quarterly national accounts for Q4 2025 are consistent with our long-standing view that the Irish economy remains in a high-growth phase, despite high global uncertainty. Consumer...
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...
Irish economy
Labour market remains robust based on latest exchequer data
February’s exchequer returns showed a strong rebound in non-corporation tax growth, driven by income tax, albeit this came after a soft result in January. However, we point to new...
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...
Bank of Ireland
FY 2025 ahead; growth to compound higher returns
FY 2025 results came in ahead of expectations, highlighted by strong growth across key franchise segments. FY 25 results bookend the existing cycle and segue into the next 3-year...
Irish banks
Banks monthly: well set for FY 2025 results
The set-up for Irish banks remains very attractive. Growth in domestic loans and deposits is above eurozone trends and will support earnings growth and capital generation in the coming...
Saint-Gobain Group
Ready to take the next step
Saint-Gobain has made a successful transition from an unwieldly conglomerate into a more-nimble, locally managed business focused on light and sustainable construction. Most notably,...
Travis Perkins plc
Cutting 2026 forecasts as outlook remains subdued
2025 was something of a year of transition for Travis Perkins, but our downward revision of current year estimates underlines how trading conditions remain unaccommodating. The stock...
Kingspan Group
Robust results expected for 2025 and attractive set-up for this year
Kingspan should report another year of robust earnings growth for 2025. This will set it apart from a building products sector that has struggled with generally unhelpful trading...
Cairn Homes
Increasing price target to 243c
A clear beat of FY25 guidance has driven a circa 3% upgrade to our Cairn Homes’ FY25 operating profit forecast, with FY27 also moving up by circa 4% (2026 is broadly unchanged)....
