bearish
Monde Nissin: High Steaks And Flexitarian Impairments
551 Views04 Apr 2023 16:17
SUMMARY
- Last week, Filipino food manufacturer Monde Nissin Corp (MONDE PM) announced FY22 top-line growth of 6.7%.
- However, the bottom line spilled red ink after booking impairment losses relating to its Quorn meat alternative ops.
- The thrust of Quorn/Impossible/Beyond alternatives was that meat eaters would sacrifice their burgers without having to sacrifice anything at all. Yet the Big Meat appetite is not so easily swayed.
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