Greencore Group plc is a leading international manufacturer of convenience foods. We have 22 convenience foods manufacturing sites in the UK and the US; and employ in the region of 12,000 people.

The Convenience Foods Division provides a wide range of chilled, frozen and ambient foods to major retail, manufacturing and foodservice customers in the UK and Ireland, as well as many in Continental Europe, the US and beyond. We have long-standing experience in customer brand as well as providing a selection of house and licensed brands. The Division consists of six manufacturing category businesses comprising 15 sites in the UK and seven in the United States. We also operate a UK nationwide chilled van distribution fleet to service individual outlets.

The Ingredients & Related Property Division comprises Trilby Trading and associate molasses companies as well as a specialist property team that is working to maximise the value of the Group's property assets.

At Greencore, we aim to provide a distinctive approach that combines consumer understanding with customer care and a passion for providing the very best products and service.


In 2011 Greencore became a founding member of the British Irish Chamber of Commerce.
Welcome from Group CEO




http://www.greencore.ie/

31 Jan Investec 325.00 Buy
31 Jan Peel Hunt 300.00 Buy
31 Jan Shore Capital N/A Buy
31 Jan Whitman Howard 310.00 Buy
30 Jan Whitman Howard 310.00 Buy

Market Buzz

Numis upgrades Greencore to 'buy' after first quarter results

Wed, 01 February 2017


(ShareCast News) - Numis has upgraded its recommendation on Greencore to 'buy' from 'add' with an unchanged target price of 285p, after the food producer reported "excellent" first quarter sales.
For the quarter ended 30 December 2016, revenue of £417m was up 17.1% on a reported basis. On a like-for-like basis, excluding revenue from The Sandwich Factory acquisition in July, sales rose 9.1%.

In the convenience foods division, revenue increased 16.4% to £401.6m on a reported basis and up 8.9% on a LFL basis.

In the UK, revenue rose 13.9% and up 9% on a LFL basis due to growth in the Food to Go business, which benefitted from new business wins.

The company is confident that it will deliver 2017 financial year results in line with expectations, notwithstanding the investments in the US and UK.

Numis said the results were "highly impressive" and the company has cleared up an number of investor concerns, including rising input costs and the performance of newly acquired US convenience food producer Peacock Foods. Peacock was bought for $748m in December.

"The key points in our view were thus. 1) The pointers to some future revenue synergies from Peacock Foods in the US (none were assumed when the deal was unveiled). 2) Management's confidence that higher input and labour costs can be coped with this fiscal year. These will be £20-25m for the UK operations in terms of raw materials & packaging and £13-15m for labour costs, with US labour costs likely to be higher in high single-digits in $ms. 3) the reiterated warning that UK investment and commissioning costs will feature and will lead to a second half-loading to progress for the 'old' Greencore this fiscal year. 4) The pointers to Peacock Foods' sales performance in the fourth quarter calendar year 2016 being in line and running in mid to high single-digits then: akin to the prior pointers to market growth for its key categories."

Shares dipped 0.47% to 234.90p at 0959 GMT on Wednesday.

8 Feb Peel Hunt 300.00 Buy

berenberg tips asos and scapa-among 15 small and-mid-cap-stock-picks

Likewise, Greencore, the UK and US sandwich and other convenience food maker with a market cap around £1.4bn, is seen as well positioned for organic growth in the coming 24 months at least and although UK margins may come under pressure in the short term, the business is insulated from the majority of input cost movements thanks to pass-through agreements with most customers.

The company's 7% compound annual growth rate for 2017-19 offers unsurpassed visibility, while three-year earnings per share CAGR of 8.4% and on 12 times 2018 earnings it offers "among the best value for growth in our food coverage".

24 Feb
Whitman Howard
310.00
Buy

Does anybody know why the share price dropped so much yesterday?

Hello groovyjean, not in this at the moment. I noticed the fall as well and read the link below last night.


http://www.irishtimes.com/business/agribusiness-and-food/greencore-shares-slide-as-customer-buys-us-sandwich-maker-1.3061133

Todays broker update kept the same. I would of thought the share is not a buy until management put out a statement of future effect on business .

26 Apr
Whitman Howard
310.00
Buy

29 Mar
Whitman Howard
310.00
Buy

Thanks very much dreamcatcher, that's very interesting, even if not good news...

Just got in, pleased it helped.

A buy in IC this week. More of an opportunity than a risk for the company.

Well, that's better news. I don't read IC, so many thanks, you're a star!

"Greencore is due to report its H1 results on May 23rd. We (Goodbody) anticipate the strong out-turn indicated at the time of the Q1 trading update to have continued, driven by robust underlying growth in UK Food-to-Go, aided by the benefit of new contracts coming on-stream."

Cheers for the update Harry and looks to be ok groovyjean.

Fingers crossed then :-)

Notification of reporting changes

19 May
Whitman Howard
310.00
Buy

Tues 23 MayInterims

Trading Statement
RNS
RNS Number : 2204M
Greencore Group PLC
27 July 2017
 
27 July 2017
Greencore Group plc - Trading Statement
Continued strong growth in both UK Food to Go and the US
Greencore Group plc ("Greencore" or the "Group"), a leading manufacturer of convenience food in the UK and US, today issues a trading update covering the 13 weeks to 30 June 2017 ("Quarter 3" or "Q3") and the 39 weeks to 30 June 2017 ("Year to Date").
Quarter 3 and Year to Date Trading1
The Group recorded revenue of £636.5m in the 13 weeks to 30 June 2017, an increase of 76.6% on the prior year on a reported basis and of 11.8% on a pro forma basis. Year to Date, the Group recorded revenue of £1,646.8m, 56.5% ahead of the prior year on a reported basis and 8.8% ahead on a pro forma basis.
Convenience Foods UK & Ireland
The division reported Q3 revenue growth of 20.9% to £370.6m, an increase of 15.3% on a pro forma basis. Year to Date, reported growth was 17.8% to £1,056.2m, up 12.2% on a pro forma basis.
The strong growth momentum delivered in the period was driven by the Food to Go business, which accounted for more than 60% of divisional revenue in Q3. Reported revenue grew by 32.6% and pro forma revenue grew by 22.7% in the quarter. This performance was driven by positive underlying market growth as well as by the delivery of the previously announced business wins with several of the Group's largest customers. Operational disruption relating to the launch of these business wins has reduced in Q3.
At the end of June 2017, the Group acquired a sandwich manufacturing facility in West Drayton, near Heathrow. This modest acquisition enables Greencore to add additional high quality manufacturing capacity to meet its food to go growth agenda.
In the other parts of the Convenience Foods UK & Ireland division (which include the Prepared Meals and Grocery set of businesses in the UK, and the edible oils and molasses trading businesses in Ireland), reported revenue grew by 6.4% in Q3, and by 5.3% on a pro forma basis, with particularly strong revenue growth in our Irish ingredients businesses. Trading conditions were challenging in our ready meals, cakes and desserts businesses during the quarter.
Convenience Foods US
The division reported Q3 revenue growth of 393.3% to £265.9m, an increase of 6.6% on a pro forma basis. Year to Date, reported growth was 280.5% to £590.6m, up 3.9% on a pro forma basis. Reported revenue growth primarily reflects the acquisition of Peacock Foods at the end of December 2016.
Progress with our consumer packaged goods customers (in the business formerly known as Peacock Foods) continues to be encouraging. On a pro forma basis, revenue was up 4.6% in Q3 in this business, with pro forma volume growth up approximately 8% in the quarter. This volume growth, which is a more meaningful indicator of underlying performance, was driven by good category growth and the expansion of our Carol Stream, Illinois, facility to cater for a contract win in meal kits. Pro forma revenue growth with our retail customers (in the original part of our US business) was 12.8% in Q3.
The integration of the US business is on track and the Group is encouraged by the pipeline of commercial opportunities being explored with existing and new customers. The Group believes that these opportunities, as well as an improving customer mix, will help the US division to leverage its enlarged network footprint and wider capabilities in order to drive profitable growth in FY18 and beyond.
Outlook
Q4 is the most seasonally important period for Greencore in both the UK and the US. This year, the step up in activity is expected to be even more significant given the integration of Peacock Foods, as well as the new business wins and associated project work in both the UK and the US. Notwithstanding the scale of this step up, and the fact that trading conditions remain challenging in certain parts of our UK portfolio, the Group anticipates that the FY17 performance will be in the range of current market expectations.
As indicated in the H1 results in May 2017 and at our Capital Markets Day Event in Chicago last month, this is a transformational period for Greencore. The Group is confident that this exciting phase of operational and network investment will allow it to take full advantage of its exposure to higher growth categories and, in turn, to enhance Group profit, cashflow, and returns.
 
Conference Call
A conference call for investors and analysts will be held at 8.30am BST today. Dial in details are below and a replay facility will be available afterwards at www.greencore.com.

27 Jul
Peel Hunt
300.00
Buy
27 Jul
Kepler...
300.00
Buy
27 Jul
Shore Capital
N/A
Buy
27 Jul
Whitman Howard
310.00
Buy