Food Production equity research

Explore the most viewed and latest equity research and media content for companies within the Food Production sector. Stocks operating in this sector provide services ranging from agriculture & fishing to general food production.

  • 14 Jan 20
LIBERUM: Science in Sport* - Trading ahead of expectations - strong BUY

SiS has set itself apart as one of the stand out performers having delivered sales ahead of expectations. Revenues are c.1% ahead of our expectations.

Companies: Science In Sport
  • 16 Jan 20
Cenkos: Finsbury Food Group Plc -- H1/20E Trading Update

Finsbury has delivered a positive H1/20E trading update in a challenging economic environment, with group organic revenue +4.7% YoY to £159.4m. A period of elevated capex has reached its end, resulting in increasing FCF for investors (c12% FCF yield for FY20E). We leave our forecasts unchanged, with the group on track to meet full year market expectations. Buy.

Companies: Finsbury Food Group
  • 14 Jan 20
Carr's Group - Engineering pipeline to offset weather challenges

Carr’s trading update for the first 18 weeks of FY20 notes that while trading in Agriculture was lower than expected, primarily because of the mild UK weather, the strong Engineering pipeline should enable the group to meet management expectations for the year. Management also notes that a greater weighting than normal to the second half is likely. We leave our estimates unchanged and reiterate our indicative valuation of 190p/share.

Companies: Carr's Group
  • 02 Jul 19
Where’s the Value?

Warren Buffett once said that as an investor, it is wise to be ‘fearful when others are greedy and greedy when others are fearful’. Fear is not in short supply right now.

Companies: OPM ALU ANCR BLV CONN CRC STU GATC HAT LEK MMH MCB MWE NXR NTBR NOG PAF PEG RFX SRC TEF TEG TPT VTU WYN XLM

  • 19 Dec 19
Cenkos: Venture Life Group Plc -- Acquisition and Trading update

Venture Life Group announced it has agreed to acquire PharmaSource BV, a company which operates in similar markets to Venture Life and is based in the Netherlands. Venture Life will pay an initial consideration of €5.23m and a deferred contingent consideration of up to €1.27m, funded entirely from the company's cash reserves. We see a number of strong benefits from the acquisition, including wider distribution, potential cross-selling, future manufacturing benefits and operational cost synergies. The company has also announced a trading update, noting its results for FY19 have been affected by previously noted issues with its Chinese distribution partners. We maintain our Buy recommendation.

Companies: Venture Life Group
  • 15 Nov 18
Premier Foods - A more resilient business

Premier Foods’ H119 results demonstrate the business has become more resilient under the stewardship of outgoing CEO, Gavin Darby. Revenue growth of 1.0% in Q2 despite the hot summer was encouraging, and the UK relaunch of the Mr Kipling brand has clearly gone well. The news that Ambrosia may be sold suggests yet another step in the business transformation, although the price will determine the level of dilution and any change to net debt/EBITDA.

Companies: Premier Foods
  • 16 Sep 19
Cenkos: Finsbury Food Group Plc - FY19A Annual results

A strong H2/19A meant Finsbury reported LFL revenue growth of +4% for the year, outpacing the market. FY19A was largely in line with our expectations, and we leave FY20E forecasts broadly unchanged. A heavy capex period is reaching an end, resulting in rising FCF for investors (c18% FCF yield for FY20E). Buy.

Companies: Finsbury Food Group
  • 05 Feb 19
THE MONTHLY February 2019

This Investment Research Paper addresses the issue of renewable power generation in the UK and in mainland Europe, which – after the deep-seated financial crisis of 2008/09 and the ensuing recession – now has better prospects of achieving critical mass. It also considers investment perspectives.

Companies: OPM AVO AJB AGY ARBB AVCT DISH BUR CLIG CSH DNL DPP GTLY GDR HAYD KOOV MCL MUR NSF OXB PCA RE/ REDX STX SCE SIXH TRX TON VAL VTA W7L

  • 03 Sep 18
Cenkos: Finsbury Food Group Plc - Acquiring a ‘Free-From' Bakery Specialist

Finsbury has announced the acquisition of 100% of Ultrapharm Limited's share capital. Ultrapharm provides Finsbury with access to the ‘Free-From' product category, which is estimated to grow at c10.6% CAGR over the next 5 years. The acquisition offers potential cross-selling opportunities, increased capacity and higher asset utilisation. The acquisition is immediately accretive adding c5% to our FY19E earnings, prior to changes in our other assumptions. Buy.

Companies: Finsbury Food Group
  • 18 Sep 19
LIBERUM: Science in Sport* - All going to plan & well-placed for H2; very cheap at current valuation

H1’19 is exactly how we expected leaving the group well placed to deliver FY results. The interims adopt IFRS 16 and with H1'18 not including PhD, we detail pro-forma numbers in the body of the note.

Companies: Science In Sport
  • 24 Sep 19
LIBERUM: Hotel Chocolat* - Very well positioned for FY’20

FY’19 results are strong with the core business (ex-USA) delivering +13% sales and +20% PAT growth. The UK has seen trading and profits improve (YoY and H2 vs. H1) which is a noteworthy point highlighting the group’s growth and defensive qualities.

Companies: Hotel Chocolat Group
  • 04 Nov 19
THE MONTHLY November 2019

The trade-off in the risk/reward for gold and gold mining equities is improving, as central banks push the current iteration of the post-World War II Bretton Woods financial order towards its limits.

Companies: AVO AJB AGY ARBB BUR CLIG DNL DPP FLTA GTLY GDR MCL MUR NSF PCA PIN ESRE PHP RE/ RECI RMDL STX SCE TON SHED VTA W7L

  • 14 Jan 20
FY19 pushed up by Europe and US improvements (finally)

Organic sales growth came in above market expectations (+6.1% organically vs. 5.8% consensus), especially thanks to a strong performance in Europe which was a good surprise. Broadly, commercial pressure persisted but the chocolate market worldwide slightly recovered (especially in terms of premium products), showing positive momentum. At the group level, the difficult environment in several markets (such as HK and Latin America) has been offset by strong European results and improvements in North America.

Companies: CHOCOLADEFABRIKEN LINDT-REG
  • 05 May 15
Overview of the business with CEO Dennis Melka
overview-of-the-business-with-ceo-dennis-melka-05-05-2015
  • 11 Mar 19
Origin Enterprises CEO, Tom O'Mahony*

Premium

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  • 30 Apr 19
Venture Life Group (VLG) Overview & investment case
venture-life-group-vlg-overview-investment-case-30-04-2019
  • 01 Feb 19
Contact Science in Sport* - Capital Markets Day

Premium

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  • 12 Apr 17
Venture Life Products
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  • 23 Jan 19
Contact General Retailers - Rating recovery amidst downgrades

Premium

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  • 11 Nov 14
Executive Interview - Carr’s Milling Industries
executive-interview-carr-s-milling-industries-11-11-2014
  • 30 Apr 19
Venture Life Group (VLG) 2018 results
venture-life-group-vlg-2018-results-30-04-2019
  • 15 Oct 14
Executive Interview - Carr’s Milling Industries
executive-interview-carr-s-milling-industries-15-10-2014
  • 04 Jan 16
Company Overview
company-overview-04-01-2016
  • 16 Sep 15
Product Update
product-update-16-09-2015
  • 21 Sep 16
Interim Results: 30 June 2016
interim-results-30-june-2016-21-09-2016
  • 20 Dec 12
Analyst Interview - Devro
analyst-interview-devro-20-12-2012
  • 12 Apr 17
Venture Life Investors Overview
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  • 13 Jul 15
Executive Interview - Cooks Global Foods
executive-interview-cooks-global-foods-13-07-2015

Latest Content

Cenkos: Finsbury Food Group Plc -- H1/20E Trading Update

Finsbury has delivered a positive H1/20E trading update in a challenging economic environment, with group organic revenue +4.7% YoY to £159.4m. A period of elevated capex has reached its end, resulting in increasing FCF for investors (c12% FCF yield for FY20E). We leave our forecasts unchanged, with the group on track to meet full year market expectations. Buy.

Finsbury Food Group

  • 16 Jan 20
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Cenkos: Finsbury Food Group Plc -- H1/20E Trading Update

Finsbury has delivered a positive H1/20E trading update in a challenging economic environment, with group organic revenue +4.7% YoY to £159.4m. A period of elevated capex has reached its end, resulting in increasing FCF for investors (c12% FCF yield for FY20E). We leave our forecasts unchanged, with the group on track to meet full year market expectations. Buy.

Finsbury Food Group

  • 16 Jan 20
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Improvements, but continue to be patient before sugar segment’s recovery

9m results were in line with expectations and guidance reiterated. While the sugar segment’s revenues fell sharply, the fruit segment’s held steady at last year’s level and the special products and CropEnergies segments’ rose. It was a bit of a disappointment when the company said the recent recovery in sugar prices isn’t yet enough to earn money in the sugar segment.

Suedzucker

  • 14 Jan 20
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Improvements, but continue to be patient before sugar segment’s recovery

9m results were in line with expectations and guidance reiterated. While the sugar segment’s revenues fell sharply, the fruit segment’s held steady at last year’s level and the special products and CropEnergies segments’ rose. It was a bit of a disappointment when the company said the recent recovery in sugar prices isn’t yet enough to earn money in the sugar segment.

Suedzucker

  • 14 Jan 20
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FY19 pushed up by Europe and US improvements (finally)

Organic sales growth came in above market expectations (+6.1% organically vs. 5.8% consensus), especially thanks to a strong performance in Europe which was a good surprise. Broadly, commercial pressure persisted but the chocolate market worldwide slightly recovered (especially in terms of premium products), showing positive momentum. At the group level, the difficult environment in several markets (such as HK and Latin America) has been offset by strong European results and improvements in North America.

CHOCOLADEFABRIKEN LINDT-REG

  • 14 Jan 20
  • -
FY19 pushed up by Europe and US improvements (finally)

Organic sales growth came in above market expectations (+6.1% organically vs. 5.8% consensus), especially thanks to a strong performance in Europe which was a good surprise. Broadly, commercial pressure persisted but the chocolate market worldwide slightly recovered (especially in terms of premium products), showing positive momentum. At the group level, the difficult environment in several markets (such as HK and Latin America) has been offset by strong European results and improvements in North America.

CHOCOLADEFABRIKEN LINDT-REG

  • 14 Jan 20
  • -
Carr's Group - Engineering pipeline to offset weather challenges

Carr’s trading update for the first 18 weeks of FY20 notes that while trading in Agriculture was lower than expected, primarily because of the mild UK weather, the strong Engineering pipeline should enable the group to meet management expectations for the year. Management also notes that a greater weighting than normal to the second half is likely. We leave our estimates unchanged and reiterate our indicative valuation of 190p/share.

Carr's Group

  • 14 Jan 20
  • -
Carr's Group - Engineering pipeline to offset weather challenges

Carr’s trading update for the first 18 weeks of FY20 notes that while trading in Agriculture was lower than expected, primarily because of the mild UK weather, the strong Engineering pipeline should enable the group to meet management expectations for the year. Management also notes that a greater weighting than normal to the second half is likely. We leave our estimates unchanged and reiterate our indicative valuation of 190p/share.

Carr's Group

  • 14 Jan 20
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LIBERUM: Science in Sport* - Trading ahead of expectations - strong BUY

SiS has set itself apart as one of the stand out performers having delivered sales ahead of expectations. Revenues are c.1% ahead of our expectations.

Science In Sport

  • 14 Jan 20
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LIBERUM: Science in Sport* - Trading ahead of expectations - strong BUY

SiS has set itself apart as one of the stand out performers having delivered sales ahead of expectations. Revenues are c.1% ahead of our expectations.

Science In Sport

  • 14 Jan 20
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Small Cap Feast

The Global Sustainable Farmland Income Trust will invest in a diversified portfolio of operational farmland assets located in major agricultural markets including the United States, Europe, New Zealand, Australia and certain countries within Latin and South America. Raising up to $300m. Due 28 February

BVC CCS CARR SDX TEK IDEA TPG MKA RRR

  • 07 Jan 20
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Small Cap Feast

The Global Sustainable Farmland Income Trust will invest in a diversified portfolio of operational farmland assets located in major agricultural markets including the United States, Europe, New Zealand, Australia and certain countries within Latin and South America. Raising up to $300m. Due 28 February

BVC CCS CARR SDX TEK IDEA TPG MKA RRR

  • 07 Jan 20
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Cenkos: Venture Life Group Plc -- Acquisition and Trading update

Venture Life Group announced it has agreed to acquire PharmaSource BV, a company which operates in similar markets to Venture Life and is based in the Netherlands. Venture Life will pay an initial consideration of €5.23m and a deferred contingent consideration of up to €1.27m, funded entirely from the company's cash reserves. We see a number of strong benefits from the acquisition, including wider distribution, potential cross-selling, future manufacturing benefits and operational cost synergies. The company has also announced a trading update, noting its results for FY19 have been affected by previously noted issues with its Chinese distribution partners. We maintain our Buy recommendation.

Venture Life Group

  • 19 Dec 19
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Cenkos: Venture Life Group Plc -- Acquisition and Trading update

Venture Life Group announced it has agreed to acquire PharmaSource BV, a company which operates in similar markets to Venture Life and is based in the Netherlands. Venture Life will pay an initial consideration of €5.23m and a deferred contingent consideration of up to €1.27m, funded entirely from the company's cash reserves. We see a number of strong benefits from the acquisition, including wider distribution, potential cross-selling, future manufacturing benefits and operational cost synergies. The company has also announced a trading update, noting its results for FY19 have been affected by previously noted issues with its Chinese distribution partners. We maintain our Buy recommendation.

Venture Life Group

  • 19 Dec 19
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SP Angel Healthcare Conditions

Venture Life Group (VLG.L): Acquisition of PharmaSource BV | Amryt Pharma (AMYT.L): Market update

Venture Life Group Amryt Pharma

  • 19 Dec 19
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SP Angel Healthcare Conditions

Venture Life Group (VLG.L): Acquisition of PharmaSource BV | Amryt Pharma (AMYT.L): Market update

Venture Life Group Amryt Pharma

  • 19 Dec 19
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Small Cap Feast

SDI VLTY AQX VLG TWD PHC TUNE CIR WSG BIDS

  • 19 Dec 19
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Small Cap Feast

SDI VLTY AQX VLG TWD PHC TUNE CIR WSG BIDS

  • 19 Dec 19
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Gone are the days of disappointments

In a favourable environment, with worldwide sugar contract prices growing, the (second) increase in guidance should be interpreted positively by the market. Confidence is definitely returning to the stock.

Suedzucker

  • 18 Dec 19
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Gone are the days of disappointments

In a favourable environment, with worldwide sugar contract prices growing, the (second) increase in guidance should be interpreted positively by the market. Confidence is definitely returning to the stock.

Suedzucker

  • 18 Dec 19
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