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Companies: A.G. BARR p.l.c.
Food Producers - Trading Comments - WYN
WYNNSTAY GROUP+ (WYN, House Stock, 530p) – Another strong trading update; upgrades!
Companies: Wynnstay Group plc
We were impressed with Diageo’s presentation as it once again demonstrated its ability to outperform the spirits market, which is itself in a strong position to outperform the drinks industry. Buy and hold.
Companies: Diageo plc
Companies: Origin Enterprises Plc
Origin Enterprises (‘Origin’) the provider for crop inputs, specialist agronomy advice and digital
agricultural solutions to the Irish/UK, European and LATAM farming communities has today
published its Q1 FY22F (August to October) trading update. We note the Group generates c90% of
its operating profit in H2 given the planting cycle so Q1 tends to be seasonally quieter.
Overall, Origin has made a strong start to FY22F which has been driven by favourable autumn/winter
planting levels compared to
Capital Metals (Capital) is developing the high-grade Eastern Minerals Project in Sri Lanka, producing ilmenite, rutile, zircon and garnet for sale. On nearly every measure, the project has superior resource metrics; we see it as fundable and generating high returns for shareholders. We also expect the resource to grow and give Capital options on expansion or mine life extension. The key catalyst, for us, was the acceptance of the Environmental Impact Assessment (EIA) on 23.11.2021, following wh
Companies: Capital Metals plc
Cake Box’s Covid impacted FY21 results post the audit process have come in ahead of our expectations with CPTP of £4.7m (Shore: £4.1m), growth of 25% yoy. Adjusted EPS growth of 23% is reported to 9.6p, whilst a final DPS of 3.7p is proposed making for a full year payment of 5.55p, a yield of 1.7% (not including a special 3.2p catch-up payment in October 2020). Period end net cash was £3.6m, with sustained future cash generation expected to provide strategic flexibility. New store openings conti
Companies: Cake Box Holdings Plc
Carr’s Group has provided an update for the 20-week period ended 17 July 2021, which notes that FY21 performance is expected to be moderately ahead of management expectations. Strong performances from both the Speciality Agriculture and Agricultural Supplies divisions have continued into H221. The H221 Engineering divisional recovery that management expected has been realised, supported by contracts from the nuclear and defence markets, and rising oil and gas prices. We raise our FY21 adjusted P
Companies: Carr's Group PLC
Exactly one year ago, the FTSE 100 closed at 5,862, having fallen 100 points on the day, the lowest point since mid-May 2020, due in part, to the strength of sterling vs US$ at $1.34. One year on, the FTSE 100 has risen to 7,119, a rise of 21%, it remains 7% below the peak in January 2020. From an international viewpoint, US and European markets continue to trade at record highs. The US Federal Reserve is close to withdrawing some of its economic support this year as inflation picks up and the e
Companies: AMYT BAG BVC BRSD CLG CML FBD GDWN INV MACF MNZS MIO NRR NSF NBI MATD PREM QFI RUA SCS STVG SUR SNX UPGS VAST VLS
Cake Box’s interim results, covering the 6 months to 30th September 2021, capture a period of strong sales recovery, continued double digit LFL franchise sales growth and accelerated franchisee store openings. Profit growth is a very strong at 122% to CPTP of £3.7m, EPS of 7.5p. An interim DPS of 2.5p is proposed, up 35% yoy. We upgrade our expectations post today’s update, raising FY22 CPTP by c8% to £7.0m and EPS to 14.7p. A net cash position of £7.0m is expected. With the potential for c400 s
Kellogg delivered a strong quarter driven by a robust top-line growth driven by incremental brand-building investment. The company faced its fair share of inflationary issues including commodity price surges, supply chain problems, and rising prices for packaging and freight which resulted from an imbalance of supply-demand. These might take a few more quarters to get resolved. The management team is also working hard to mitigate the margin impacts of these high costs. While their productivity a
Companies: Kellogg Company (K:NYSE)Kellogg Company (K:NYS)
This is our first report on Pond Technologies and we look to provide a detailed account of the various drivers that will be responsible for the company’s growth in the coming years. The company’s business is divided into 3 units – Pond Carbon, Pond Naturals, and Pond Biotech. Each of these segments are critical growth drivers. The market assumes that Pond's stock is fairly valued at existing levels, which is why the fluctuation is negligible, but this is bound to change. The latest partnerhips w
Companies: Pond Technologies Holdings Inc.
An exceptional H1 EBIT, with strong beats everywhere, which, for a large part, will drive the FY21-22 EBIT growth. A strong upgrade is expected for consensus’ full-year expectations, although H2 is expected to slow. The performance can justify the rich valuation, but we see more upside for peers.
Companies: Remy Cointreau (RCO:EPA)Remy Cointreau SA (RCO:PAR)
Greencore, the major chilled and convenience food producer, issued an unexpected, and so surprise,
statement to the market on the afternoon of the 25 November 2021 that its long standing and highly
respected CEO, Patrick Coveney will be stepping down from the Group in March 2022. Mr Coveney
will be joining SSP as Group CEO following a separate announcement by the business.
Companies: Greencore Group Plc
Britvic’s recovery continued in H2, with continued growth in at-home channels while out-of-home rebounded. GB and Brazil both posted revenue growth, while Other International was affected by weaker performance in France, caused – among other things – by poor summer weather. Organic revenue growth was 6.6%, while adjusted EBIT was up 10% on the same basis. Adjusted EPS was up 2.5% to 44.3p, as it was adversely affected by a one-off deferred tax charge. The dividend per share is 24.2p, up 12%. Cur
Companies: Britvic plc