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Geest - Convenience food supplier out-performs rivals

October 2003

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

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Geest produced solid results for the six months ended 28 June, with sales rising 10% to £423m and pretax profit up 2%, before goodwill and property disposals.  The latter lagged top line growth because of price deflation from its supermarket customers and higher insurance costs. The hoped for windfall in bagged salad profits from the hot summer, which might have got H2 off to a flyer, never quite materialised, partly because Geest ran out of UK stocks grown under contract and had to pay higher prices in the spot market.  Secondly, sales of hot products, such as lasagne, were adversely affected, so the net impact of the hot weather was neutral.  Geestplans to spend £50m capital expenditure this year (1.5x depreciation), o ...

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Related Articles

Geest - Growth in convenience foods (July 2003)
Geest - Bagges salad market growing again (October 2002)

With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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