Beyond Meat Continues Giddy Share Price Rise On First Results
Already one of the most successful IPOs of all time having seen its share price gain 298% since its starting value on May 1
The latest share price surge has been
Q1 was strong with revenues tripling to $40.2 million ahead of expectations for $38.9 million. The Beyond Meat burger, made of yellow pea protein and vegetable starches as well as
Sales growth has been driven by existing customers upping their orders as well as Beyond Meat further developing new buyers by expanding its base of retail and restaurant partners. A European production plant is planned and work has already started
Rapid expansion has, however, led to growing losses, which reached $6.6 million from $5.7 million over the same period a year ago. They were, though, down on a per share basis at 95 cents compared to 98 cents over the same quarter of 2017. Losses per share adjusted for one-off expenses were slightly lower than forecast at 14 cents a share when 15 cents had been pencilled in by analysts.
A wider market trend towards
Food science developments mean this new generation of faux burgers is much closer to the real thing in taste and overall experience compared to previous examples on the market. Other
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