31/10/2023 09:14

Inghams Group Ltd (ING) $3.41

Poultry business ING delivered a strong result in August with NPAT of $71m coming in  ~14% ahead of expectations. History tells us that during tough economic times, which most Australians are supposed to be enduring, although not according to yesterday's Retail Sales numbers, we turn to the cheaper protein alternative of chicken over, say, steak.

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17/08/2023 17:18

Inghams (ING) $3.19

ING +14.75%: the poultry business hit ~5-month highs today after better expectations for FY23 and significantly de-gearing the balance sheet. Revenue of $3b was up 12% and in line with consensus, EBITDA up 14% to $434m was a small beat while NPAT of $71m was ~14% ahead of expectations.

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01/06/2023 09:08

Inghams Group Ltd (ING) $2.82

Poultry giant ING fell -4.7% yesterday although it’s still up +3.5% year to date, this remains a billion-dollar business even after major underperformance over the last 2 years. In March the company delivered its FY’23 half-year result which showed NPAT was down 13.1% over the year primarily due to operational challenges such as supply chain disruptions and broad inflationary pressures.

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30/03/2023 09:31

Inghams Group Ltd (ING) $3.05

Poultry giant ING has still got a market cap of $1.1bn even after a period of significant underperformance from the stock both before and post-COVID.

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17/11/2022 09:34

Inghams Group Ltd (ING) $2.74

Poultry giant ING has struggled to take make any meaningful headway since listing back in 2016, recently the company has been weighed down by supply chain problems, COVID-absenteeism, weather, and input cost inflation however we believe the worst of these headwinds could be behind ING and at least a decent bounce could be unfolding.

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02/09/2022 09:27

Inghams Group Ltd (ING) $2.58

Moving onto poultry business ING which has struggled over the last 12 months with supply chain problems, COVID-absenteeism, weather and input cost inflation all weighing on the business i.e. last year was a tough one for the industry:

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19/08/2022 17:02

Inghams (ING) $2.69

ING -9.43%: a difficult session for the poultry goods business that faced a difficult FY22. Profit fell nearly 60% to $35m, well below consensus at $43m despite volumes increasing more than 4%. Supply chain costs, COVID-absenteeism, weather and input cost inflation all weighed on the numbers. While these pressures have started to ease in the final quarter, the company said consensus expectations were too high for FY23 and they would expect downgrades of up to 10%.

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02/08/2022 09:27

Inghams Group Ltd (ING) $2.89

Poultry business ING fell to fresh all-time lows in June courtesy of rising fuel and feed costs plus labour shortages have also weighed on the cost & scale of production. We like the company’s position into tougher economic times with chicken providing a cheaper protein alternative to say steak plus a forecasted yield in excess of 5% fully franked over the next 12-months is attractive in most interest rate environments.

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08/06/2022 09:23

Inghams Group Ltd (ING) $2.90

Poultry supplier ING has been hammered over the last few months, a raft of issues ranging from fuel and feed costs plus labour shortages have hurt both the cost and scale of production, although the latter has at least improved as we move on from COVID. MM continues to like the relative stability of the business if these issues can be overcome while chicken being a cheaper protein selection to say steak should limit the impact of less $$ sitting in the pockets of consumers.

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06/05/2022 09:12

Inghams Group Ltd (ING) $2.81

Poultry business Inghams has seen its shares plunge to all-time lows this week even after delivering profit for HY22 up 5.9% to $39.7mn, but signs are arising that Omicron has started to impact the business. The stock is forecast to yield in excess of 6% over the next 12-months but that’s irrelevant if the shares keep sliding lower. We do like the relative stability of this business but we would be considering an “accumulation into weakness” approach...

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