Milling & Baking News - January 19, 2016 - 26

Stock Market Review X

Mixed results seen across foreign
grain-based foods stocks during 2015

T

accessible to consumers. The range of 12
bread, savory and sweet mixes will be
available on shelves beginning next month.
Finsbury Food Group P.L.C., a
U.K.-based maker of cake, bread and
gluten-free bakery goods, closed 2015
at 113p, up 88% from 60p in 2014. The
company continued to benefit from its
October 2014 acquisition of morning
goods and specialty bread supplier
Fletchers Group, which nearly doubled
Finsbury's total sales.
Greggs P.L.C., an operator of retail
bakery shops and cafes in the United
Kingdom, finished 2015 at 1314p,
up 80% from 732p in 2014, and up
205% from 430.5p in 2013.
Foreign stocks, 2015 share
The three leading U.K. retail chains
price performance
sustained mixed share price moves
during the past year. Tesco, the
Marks & Spencer
United Kingdom
-6%
leader in U.K. food retailing, closed
Premier Foods
United Kingdom
23%
at 149.5p, down 21% from 189p a
Gregg's P.L.C.
United Kingdom
80%
year ago. Also moving down during
Tesco
United Kingdom
-21%
the year was Marks & Spencer,
Associated British Foods
United Kingdom
6%
which finished the year at 452.4p,
Tate & Lyle P.L.C.
United Kingdom
-1%
down 6% from 478.8p. Sainsbury,
Sainsbury P.L.C.
United Kingdom
5%
P.L.C., meanwhile, closed the year at
258.8p, up 5% from 246.70p.
Finsbury Food Group P.L.C.
United Kingdom
88%
In Ireland, Greencore Group
Kerry Group
Ireland
34%
P.L.C., a European maker of
Greencore Group
Ireland
24%
convenience food and malt
Origin Enterprises
Ireland
-11%
products, finished at 354.3p, up
Agrium Inc.
Canada
31%
24% from 286.2p in 2014. In the
GrainCorp Ltd.
Australia
5%
United States, Greencore has
First Baking Co.
Japan
-13%
embarked on a "large and complex
Nisshin Seifun
Japan
70%
capacity expansion program,"
Nissin Foods Holdings
Japan
11%
most notably in Jacksonville, Fla.,
Nippon Flour Mills Co. Ltd.
Japan
62%
and Rhode Island. In the first
Yamazaki Baking
Japan
84%
half of fiscal 2015, the scale and
Indofood
Indonesia
-23%
ramp up of production volumes
Olam International
Singapore
-10%
in Jacksonville resulted in supply
Wilmar International
Singapore
-9%
chain disruption, but the issues
Danone
France
14%
have since been addressed and the
Ahold n.v.
The Netherlands
32%
site is now performing in line with
Corbion
The Netherlands
62%
plan, said Gary Kennedy, chairman.
DSM
The Netherlands
-9%
In the second half of fiscal 2015,
Unilever
The Netherlands
24%
Greencore commissioned a new
Nestle S.A.
Switzerland
-3%
greenfield site in Rhode Island
and began the phased transfer of
Aryzta AG
Switzerland
-34%
production from its facilities in
Alexandria Flour
Egypt
-2%
Newburyport and Brockton, Mass.
East Delta Flour
Egypt
6%
The transfers were completed
Middle Egypt Flour
Egypt
-20%
subsequent to year end, and the
Middle and West Delta Flour Co. Egypt
-6%
company has now fully exited both
North Cairo Flour
Egypt
-31%
Newburyport and Brockton.
South Cairo & Giza Flour Mills
Egypt
-27%
Kerry Group finished the year at
Egyptian Starch
Egypt
-35%
€76.31,
up 34% from €57.07 in 2014.
Upper Egypt Flour
Egypt
-13%
Kerry
Group
in October ramped
Ebro Foods
Spain
32%
up its presence in the United States
Flour Mills of Nigeria
Africa
-48%
with a series of acquisitions. The
Tiger Brands Ltd.
South Africa
-14%
company said it has agreed to

he number of grain-based foods
companies outside of North America
posting strong returns took a step
back in 2015, as a little more than half of the
39 companies tracked by Milling & Baking
News recorded year-over-year decreases in
share price. Of the 39 companies, 20 posted
decreases and 19 posted increases during
the year. By comparison, 25 companies
recorded year-over-year increases in share
price in 2014, and 32 companies posted
year-over-year gains in 2013. The declines
primarily could be traced to companies
operating in Africa, Egypt and Indonesia,
while strength was evident in
Australia, France, Ireland and Japan.

On the London Stock Exchange,
Associated British Foods finished
the year at 3342p, up 6% from 3153p
in 2014 and up 37% from 2445p in
2013. George Weston, chief executive
officer of ABF, in the company's
annual report said he was "pleased"
with the trading performance and
the progress made by each of ABF's
businesses during 2015. "Grocery,
Agriculture, Ingredients and Retail
all increased their profits," he said.
"Sugar profit was, as expected,
substantially lower than last year
as a result of much weaker eurodenominated E.U. sugar prices, but
the business made great strides in
reducing operating costs."
Carr's Milling Industries P.L.C.
changed its name to Carr's Group
P.L.C. during the early part of 2015
and shifted its ticker symbol to
CARR from CRM. Carr's Group's
share price closed at 154p in 2015
(there was no comparison to
2014). The company said the name
change reflects the "geographic and
operation diversity of the company."
Tate & Lyle P.L.C., the global
sweetener company, had a 52week low of 492.2p and a high of
682.5p, but ultimately ended the
year virtually unchanged at 599p,
which compared with 603p in 2014.
In November, the company's top
executive said he foresees three
ways to strengthen its business
mix over the next five years. By
2020 the company wants 70% of its
profits to come from specialty food
ingredients, 30% of its specialty
food ingredients sales to come from
Asia Pacific and Latin America, and
$200 million of sales to come from
new products. Javed Ahmed, chief
26 / January 19, 2016 XMilling & Baking News

executive of London-based Tate & Lyle, in
a Nov. 5 earnings call, said the percentage
of profits from specialty food ingredients
increased to 47% in fiscal year 2015 from
32% in fiscal year 2010. Now the goal is
70% of profits by 2020.
Premier Foods, the U.K.'s largest food
producer, finished 2015 at 39.25p, up 23%
from 32p in 2014, but down 69% from
125p in 2013. In November, Premier Foods
entered into an exclusive partnership
with renowned baker Paul Hollywood to
launch a range of bread, savory and sweet
mixes designed to make artisanal baking

bakingbusiness.com / world-grain.com
http://www.bakingbusiness.com http://www.world-grain.com
Milling & Baking News - January 19, 2016

Table of Contents for the Digital Edition of Milling & Baking News - January 19, 2016
