Food and beverage

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AG Barr

Outlook for FY26 positive

AG Barr is expected to sustain mid-single-digit (MSD) organic growth through FY26, continuing to stand out in a more challenging market. Strong continued delivery of its self-help...

Cranswick plc

Capital Markets Day – medium- term targets signal continued strength

Ahead of its Capital Markets Day today, Cranswick has outlined its medium-term ambitions – targeting mid-single-digit (MSD) organic revenue growth and an adjusted operating profit...

Greencore Group

Potential Bakkavor acquisition – details and analysis

Greencore has confirmed that it made two proposals to listed peer Bakkavor for a cash-and-share offer, both of which were rejected. While unexpected, we see the acquisition as...

C&C

Pre-close trading update

Given the impact of softer trading across the market in January and February of 2025, C&C now expects to deliver EBIT in the range of €76-78m for FY25 (Davy: €80m). Looking ahead,...

Dole plc

Model update

We are lowering our FY25 adjusted EBITDA forecasts by c.5% to $380m (guidance: $370-380m) due to the short-term, knock-on impact of Storm Sara on H1-25 profitability. However, we...

Glanbia

Updating forecasts: valuation at multi-year lows; equity intrinsically undervalued

We have updated our Glanbia model following its full year results – the net outcome is a 13.5% cut to our FY25 EPS forecast and 11.7% to FY26. The acute equity drawdown, well in excess...

Danone

Model update – moving to ‘Outperform’

Confidence in Danone’s operating model and growth algorithm has strengthened following a year of strong execution and record productivity. Margin delivery supports continued...

Origin Enterprises

Good H1 performance

In the seasonally quieter first half, Origin Enterprises delivered constant currency organic EBITA growth of 31.5% (€4m). The out-turn, allied with normalised plantings and good progress...

Origin Enterprises

Living Landscapes: a growth platform

Origin’s Living Landscapes platform is one of the more interesting growth angles across our coverage list. The business to business (B2B) platform, built via acquisitions and...

Dole plc

Solid finish to FY24; weather headwinds to weigh on FY25 profitability

Dole’s FY24 adjusted EBITDA increased 6.7% on a like-for-like (LFL) basis, coming in strongly above its guidance and beating consensus forecasts. Healthy progress was made on balance...