CGC +6.72%: Held their AGM today and provided a positive trading update, which have been few and far between in recent years. They talked to improving trends across their business with recent investments into new production capacity, namely in Mushrooms and Tomatoes paying dividends. Their international operations are doing best, with very strong profit results emerging from both China and Morocco. They saw evidence that the increased input cost pressures of 2021-22 are slowly easing while an improvement in labour availability was also a plus. We have held Costa (CGC) in the past and lost money, however, this is a leveraged business, and when times are good, they can generate very strong earnings.
MM is now more positive on CGC
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