Premier Foods+ (PFD, House Stock, 130p) - FY23A results - a great British grocery proprietary brand business

SHORE CAPITAL - Premier Foods+ (PFD) - House Stock at 115p

SHORE CAPITAL - Premier Foods+ (PFD, House Stock at 114p)

SHORE CAPITAL - Premier Foods+ (PFD), House Stock at 111p

Premier Foods+ (PFD) - House Stock at 113p - Acquisition of The Spice Tailor - a hand-in-glove growth driver - 1Y EPS enhancement

SHORE CAPITAL - Premier Foods+ (PFD) - House Stock at 107p

SHORE CAPITAL - Premier Foods (PFD) - House Stock at 107p

SHORE CAPITAL - Premier Foods (PFD) - House stock at 117p

SHORE CAPITAL - Premier Foods+ (PFD), House Stock at 111p

Premier Foods+ (PFD, House Stock, 114p)

Shore Capital - Premier Foods+ (PFD) House Stock current price 111p

Appointment as Joint Broker leads to withdrawal of recommendation

Anpario+ (ANP) - House Stock (from Buy), 208p - Appointment as NOMAD & Broker leads to withdrawal of recommendation.

GenAI: How to Use It

You''ve been here before, right? Blockchain, the Metaverse - and now GenAI. Could this time really be different and the hype justified? The answer to this question is rooted in how GenAI can be used in the real world. In this report we thus challenge our sector teams to identify GenAI use-cases within their industries - and those companies likely to pioneer them. The result is perhaps the broadest consideration yet of how GenAI can diffuse through the economy. Efficiency is the common theme, pr

Shares trading >20% below adj. NAV; positive category data

Chapel Down share price in recent weeks has retreated to a 22% discount to our adj. NAV of 38p. This is overdone and offers an attractive entry point on deep value and structural growth considerations. Recent Nielsen off-trade data for English sparkling wine remains highly positive, with April numbers in particular stellar (boosted by the King’s coronation). The growing season is anticipated to have got off to a good start as has the brand relaunch over Q2. While we make no forecast changes, our

46 stocks, 272 charts, 690 questions

Conference compendium With the summer conference season approaching, we have collated a convenient compendium of questions and performance/valuation/data screens for all the stocks within our food, household and personal care, beverages and consumer ingredients coverage universe. Stock information Within you will find 15 updated questions for management, latest company guidance, the P/E and EV/EBIT history relative to the wider sector, the P/E history relative to the relevant sub-sector, the YTD

Cranswick+ (CWK, House Stock, 3140p) - Larger, more diverse & better equipped

Good start to FY23; FD departure

A solid Q1’23 update from Nichols today with revenue up 4.2% vs a stiff 29% comp. International was the standout feature, led by good momentum being sustained in Africa reinforcing Nichols’ geographic diversity. Inflation continues to be effectively managed. The other main news is the resignation of the CFO. In our view, post the successful OoH strategic review, he leaves Nichols on a much stronger strategic and financial footing. A search for a successor has commenced. With full year PBT expect

India''s decade: key learnings from our field trip

Key learnings from our India field trip We spent much of last week in India meeting both corporates (Beiersdorf, Diageo, Godrej Consumer, Heineken, Jyothy Labs, Marico, Reliance Retail, Titan and Unilever) and important domestic equity investors. This report summarises the key learnings from our trip. Fast pace of development We were struck by the fast pace of development since we were last in India (2018): new roads, metro lines and a high-end shopping mall in Mumbai being obvious examples. Gr

2022 IWSR data and 15 observations for investors

2022 IWSR data and 15 observations for investors IWSR (International Wine and Spirits Research), which describes itself as the global benchmark for beverage alcohol data, released its 2022 estimates last week (25th May). Having combed through the data, we draw-out 15 observations that we believe are likely to be of most interest to investors. Observation 1: Both Western Style Spirits and Beer gained share of throat in 2022 Combining the new IWSR data with preliminary Beer estimates per GlobalDat

Hybridan Small Cap Feast - 05 May 23

5th May 2023 @HybridanLLP Status of this Note and Disclaimer This document has been issued to you by Hybridan LLP for information purposes only and should not be construed in any circumstances as an offer to sell or solicitation of any offer to buy any security or other financial instrument, nor shall it, or the fact of its distribution, form the basis of, or be relied upon in connection with, any contract relating to such action. This document has no regard for the specific investment objective

Growth Companies - Share & share alike Sell in May?

Greencore Group (GNC) - House Stock at 76p - H1 FY23A - Forecasts retained

A Good Crisis Gone to Waste

Winston Churchill famously said one should ''never let a good crisis go to waste''. While packaged food companies embraced this mindset with admirable efforts throughout the COVID-19 pandemic, we believe the data suggests that the pandemic has not resulted in lasting consumption benefits for the group, broadly speaking. With a future for the industry in which idiosyncratic factors could well again shine through in top-line results, we come away with increased conviction in General Mills (+). A g

Hybridan Small Cap Feast - 12 Jan 23

12 January 2023 @HybridanLLP Status of this Note and Disclaimer This document has been issued to you by Hybridan LLP for information purposes only and should not be construed in any circumstances as an offer to sell or solicitation of any offer to buy any security or other financial instrument, nor shall it, or the fact of its distribution, form the basis of, or be relied upon in connection with, any contract relating to such action. This document has no regard for the specific investment object

Vimto brand strength reinforced in 2022

We are impressed with todays YE update, further reinforcing the resilience of the Vimto brand against a difficult consumer and cost backdrop. Revenue grew 14%, with International a key stand out and PBT in line with market expectations (+16% y/y). The OoH strategic review is near complete and will be unveiled at the March finals. We anticipate a robust plan to lift profitability from FY24. There is also good news around succession planning with a new Chair appointed. Outlook commentary for FY23

SHORE CAPITAL - Share & share alike