​Boparan is a UK-based food manufacturer specialized in poultry. The group has published satisfactory results in 1Q16/17 (ended October 29, 2016), with LFL sales up by 2.4% yoy in Q1 (reported revenues +5.1% to £818m thanks to FX) on the back of continued volume growth. EBITDA margin was stable at 5.2%, but it masked mixed performances across businesses. The Chilled (19% of total sales and 25% of EBITDA) and Branded (13% of total sales and 39% of EBITDA) divisions continued to show solid grow...
BOPRLN GBP 5.25% 7/2019 (call 15/07/2016 @ 102.625) @ 93.25, YTW=7.43%, Z+615bps, B2 / B+ BOPRLN EUR 4.375% 7/2021 (call 15/07/2017 @ 102.188) @ 88.125, YTW=6.98%, Z+660bps, B2 / B+ BOPRLN GBP 5.5% 7/2021 (call 15/07/2017 @ 102.75) @ 88.25, YTW=8.16%, Z+660bps, B2 / B+ BOPARAN is a UK-based food manufacturer specialized in the poultry business. The group has released its 1Q15/16 results (ended 31 Oct. 2015), which were slightly below our expectations in terms of EBITDA margin. Continued price ...
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