Food Production

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.

Food Production equity research

16 Jan 19

Cenkos: Finsbury Food Group Plc - H1/19E Trading Update

Finsbury has announced a trading update for the 6 months ended 31 December 2018, where despite the challenging market conditions, the company has been able to generate LFL sales growth of +0.5% YoY (H1/19 £145.5m). A robust performance in UK Bakeries (+1.7% YoY) was somewhat offset by weakness in the Overseas division (-8% YoY). Notwithstanding, we see great value in the stock at FY19E 5.9x EV/EBITDA. Buy.

Companies: Finsbury Food Group

17 Sep 18

Cenkos: Finsbury Food Group Plc - Recipe for Growth

Finsbury has announced its annual results for FY18A, delivering 2.4% YoY growth in revenue from continuing operations to £290.2m. Management has delivered a stellar performance by controlling costs and maintaining margins in a challenging market environment. Investment into innovation and facilities, coupled with strategic acquisitions in a consolidating industry, provides investors with a platform for continued growth. We release our FY20E forecasts, inferring c6% YoY growth in adjusted operating profits, with Finsbury trading on a 12-month blended-forward EV/adj-EBITDA of c6.5x. We reiterate our Buy recommendation.

Companies: Finsbury Food Group

18 Oct 18

LIBERUM: Hotel Chocolat* - BUY into an exceptional brand

A combination of strong organic growth, internationalisation of the brand, innovation and growth in new channels all combine to underpin a very strong investment thesis. Double-digit growth is underpinned by the core UK business where a combination of strong top-line and margin expansion will continue to drive earnings.

Companies: Hotel Chocolat Group

06 Nov 18

THE MONTHLY November 2018

In addition to Hardman’s monthly analysis of client stocks, the thorny issue of market disruption – a popular theme currently - is also addressed. In a wide-ranging article, Hardman’s utilities analyst, Nigel Hawkins, assesses the impact that market disruption has already made. In some sectors, notably telecoms and aviation, market disruption has been apparent for many years, as the rise of Vodafone, Ryanair and easyJet demonstrates. However, in some sectors, such as oil and housebuilding, structural changes have been modest – the dominance of the big players endures. For investors, there is real interest in those sectors where changes are underway. The UK groceries market, which may shortly become a duopoly, is a case in point. And, intriguingly, who knows if there is a company currently languishing in AIM, which will attain a £50bn market valuation within the next decade?

Companies: OPM AVO AGY APH ARBB AVCT DISH BNO BUR CMH CLIG CSH DNL DPP GTLY GDR HAYD KOOV MCL MUR NSF OXB PHP RE/ REDX SCE SIXH TON VAL VTA W7L

12 Apr 17

Venture Life Products

04 Jan 16

Company Overview

12 Apr 17

Venture Life Investors Overview

11 Nov 14

Executive Interview - Carr’s Milling Industries

13 Jul 15

Executive Interview - Cooks Global Foods

05 May 15

Overview of the business with CEO Dennis Melka

15 Oct 14

Executive Interview - Carr’s Milling Industries

20 Dec 12

Analyst Interview - Devro

21 Sep 16

Interim Results: 30 June 2016

16 Sep 15

Product Update

Latest Content

Finsbury Food Group

Cenkos: Finsbury Food Group Plc - H1/19E Trading Update

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16 Jan 19
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Dekeloil Public

VSA Morning Agri Comment

Côte d'Ivoire agricultural company DekelOil Public Limited (DKL LN)# has announced a production update for Q4 2018.

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10 Jan 19
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Suedzucker

The sugar context is continuing to impact the group negatively

No major surprises in the 9m results, as the group still continues to face a challenging sugar environment. It has confirmed its guidance, which had already been reduced four months ago.

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10 Jan 19
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MPE SHOE MTC

Morning Note – 9 January 2019

M.P. Evans (MPE): Corp Robust 2018 production data | Mothercare (MTC): Corp Q3: Strategic progress despite continued UK challenges | Shoe Zone (SHOE): Corp Delivering upgrades; step-change in confidence in growth

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09 Jan 19
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MCON CAML MPE PPC WINE PPS SIS SOS UNG RMS

Small Cap Feast

Circassia Pharma (CIR.L) - specialty pharmaceutical company focused on respiratory disease transferring from the Main Market. No funds being raised. Due 4 Feb. Greenfields Petroleum (TSX-V:GNF) production focused company with operated assets in Azerbaijan seeking AIM dual listing including $60m private placement. Mkt cap $12.6m CAD. Expected late January 2019.

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09 Jan 19
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Carr's Group

Carr's Group - Good start to FY19

Carr’s trading update for the first 18 weeks of FY19 indicates that both divisions are performing well. As the group is trading in line with management’s expectations for the full year, we leave our estimates and indicative valuation of 182p/share unchanged.

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08 Jan 19
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Dekeloil Public

VSA Morning Agri Comment

West African agricultural company DekelOil Public (DKL LN)# has taken a 43.8% equity stake in the 10,000tpa (expandable to 30,000tpa) Tiebissou cashew processing project in Cote d'Ivoire.

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21 Dec 18
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AMS 88E RGD PPC CMH I3E EDL WRES TENG NSCI

Small Cap Feast

PetroTal Corp is an oil and gas company whose shares are currently admitted to trading on the TSXV. The Company is focused on development of oil and gas assets in Peru and it currently has controlling interests in three onshore Peru license blocks. No new funds being raised. Due 21 Dec. Mkt cap c.£80m Greenfields Petroleum (TSX-V:GNF) production focused company with operated assets in Azerbaijan seeking AIM dual listing including $60m private placement. Mkt cap $12.6m CAD. Expected mid December.

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20 Dec 18
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ARYZTA

Flat Q1

Q1 trading update: revenue was flat organically (+0.3%, with volume -0.6%, price/mix +0.9%) and -5.2% on reported figures (net disposals: -5.3%, FX: +0.2%). By division, Europe recorded +2.0% OG (weaker than Q4 due to lower volumes), North America recorded -2.8% OG (which is weaker than Q4). ROW recorded a solid +7.7% (+6.1% volume-driven). The FY guidance is maintained: organic EBITDA to be up to a mid-to-high single-digit (excluding any disposals).

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18 Dec 18
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Carr's Group

Carr's Group - Delivering growth

Carr’s Group is building market-leading positions in high-value, growing sectors in global agricultural and engineering markets, increasing its international footprint and differentiating itself through innovative technologies such as low-moisture feed blocks and highly specialised robotic arms for use in hazardous environments such as the nuclear industry. This strategy delivered a 49% rise in adjusted PBT during FY18. It also reduces the group’s exposure to variations in UK weather and government farming policy.

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