East Imperial Trading update - 15% revenue growth with strategic progress in key markets

East Imperial produces and markets premium tonics and mixers, selling to some of the world's leading hotels, bars and restaurants in APAC, the US and a number of other territories. This morning, the company has announced a positive FY22 performance, pointing to revenue marginally ahead of our expectation at £3.2m (WHI est. £3.1m), an increase of 15.5% YoY, driven by strong growth in the US, alongside the easing of COVID restrictions in key markets such as New Zealand and APAC. On the cost front,

WH Ireland: East Imperial (EISB) - Initiation of coverage ‒ premium brand with sizeable growth opportunity

East Imperial produces and markets premium tonics and mixers, selling to some of the world's leading hotels, bars and restaurants in APAC, the US and other countries around the world. The company was founded in New Zealand and Singapore in 2012, with a focus on building a high-quality brand to capitalise on the growing demand for premium and ultra-premium spirits and mixers. With key competitors seeking high volume growth, including through expansion into off-trade value retailers, East Imperial

WH Ireland: East Imperial (EISB) - Appointment of US bottling partner

East Imperial produces and markets premium tonics and mixers, selling to some of the world's leading hotels, bars and restaurants in APAC, the US and other countries around the world. The company has this morning announced that it has appointed The Lion Brewery as its US bottling partner, with production expected to start in early 2023. To date, bottling of its tonics and mixers in all of the territories in which East Imperial distributes its products has been undertaken in New Zealand. As such,

WH Ireland: East Imperial (EISB) - Interim results demonstrate growing momentum

East Imperial produces and markets super-premium tonics and mixers across APAC, the US and Europe. The group has this morning released interim results to 30 June 2022, pointing to positive momentum and an encouraging outlook for trading in H2 and beyond after what remained a challenging environment in the six month period. Revenue increased by 26.3%, mainly driven by a strong performance in the US, which saw 132% growth, reflecting both a return of on-trade markets and the establishment of key d

Morning Note – 24 April 2024

Zambeef - Interim trading update: perfect storm

Zambeef’s 2H23 broad-based recovery and strong finish to last year has come to an abrupt halt in 1H24 with yesterday’s interim trading update warning that FY24E reported earnings will be 55% below market expectations due to a perfect storm of tighter consumer spending, higher input costs, adverse currency movements, higher interest costs, an impairment and a loss from an asset held for disposal. We have reduced our EPS (Dil. Adj.) forecasts by 25% to 184c from 245c for FY24E and by 32% to 202c f

LIBERUM: The Artisanal Spirits Company: Outlook improved; massively undervalued to its inventory base

Single Cask Nation acquisition uplifts US prospects

The Artisanal Spirits Company (ASC) has announced an important acquisition in the US. Effective 3rd January 2024, the company has acquired 100% of the trade and assets of Single Cask Nation (SCN), which is an independent bottler and distributor of both Scotch and American whiskies. An accompanying trading update for ASC confirms recent guidance and we leave our forecasts unchanged. Our assessment of fair value remains 100p per share. ASC states that the SCN acquisition, which includes all of it

Growth Companies - Share & share alike Sell in May?

ORSERO: coverage dropped

We have dropped our coverage of Orsero owing to internal reorganisation. Our rating, target price and estimates are therefore no longer valid.

Acquisition of Total Foodservice Solutions