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/

Convenience food producer offers solid growth prospects and material rerating scope.

A very grudingly valued convenience food producer Greencore produces its numbers for the year to September forthcoming 27 Nov. The results could prompt a rerating
as the company highlights positive trading in the UK and US and reminds the market of its commitment to pay down debt.
Guided by chief Exec Patrick Covenney, the £312 million cap is a leading uk convenience food market player whose strenghts include a strong product portfolio
and broard customer base. Dublin based headquartered Greencore makes everything from sandwiches and prepared meals to cakes and Yorkshire puddings for the likes of The Co-Op and Asda. The company's market position wasstrengthened significantly by last years £113 million acquisition of salads-to-sandwiches producer Uniq. This strengthened the relationship with Marks & Spencer.
Greencore is building a company of scale in the US, through the takeover of Marketfare (18 Apr) a food to go supplier for 7-Eleven, as well as sushi-to-fresh sandwiches producer Schau (27Jan). At the same time Greencore's UK market position continues to strengthen . The summers acquisition (23 Aug) of International Cuisine a private label chilled ready meals specialist , bought extra capacity in the growing UK market and fostered even closer ties with Asda and The-Co-Op.
Shore Capital believes next months full-year numbers will show 18% growth in earnings per share to 12.4p. For the new fiscal year just began,the broker forecasts 18.5% EPS growth to 14.7p. These estimates leave the shares languishing on a prospective price/earnings (PE) ratio of just 5.4,which looks to low, even allowing for the debt pile. A forecast of the 2012 dividend of 4.1p also implies an attractive yield of 5.1%

Looks good.

Buys in favour of sells today at 4 to 1. Some large buys today, sp up 4.5%

Full Year Results

Greencore will issue its results for the year ended 28 September on Tuesday 27 November.

Growth at a reasonable price is exactly what you will get with convenience food producer Greencore. Making everything from sandwiches to prepared meals and cakes -it is taking market share in a tough grocery sector. Progress in Uk, Ireland and the Us has analysts predicting high-teens earnings per share growth this year, and promising a 5% yield, the price/earnings (PE) multiple of 5.5 will not stay that low for long.

Final Results
HIGHLIGHTS

· Growth of 44.5% in reported revenue to £1,161.9m, due to acquisition activity and business momentum;

· Revenue from Convenience Foods continuing activity1 of £1,036.9m, up by 11.2% or 7.4% excluding the impact of

acquisitions in the year, despite challenging market conditions;

· Group operating profit2 up 37.3% to £70.7m, reflecting the acquisition activity and business momentum;

· Group operating margin of 6.1%, an expected 30 bps decline resulting from the incorporation of Uniq;

· Adjusted earnings3 of £49.2m, up 70.9% and adjusted EPS3 of 12.8p, up 21.9%;

· Net Debt of £258.0m, resulting in a net debt: EBITDA leverage of under 2.5 times on the basis of calculation used

under our financing arrangements;

· Proposed final dividend of 2.5 pence per share, giving a total dividend of 4.25 pence per share;

· Uniq integrated with delivery in line with our business case;

· Established a scale food to go focused business in the US following the acquisitions of MarketFare Foods, LLC

("MarketFare") and H.C. Schau & Son, Inc. ("Schau") and signed a supply agreement with Starbucks



http://www.moneyam.com/action/news/showArticle?id=4491877

Very good set of results, should reflect today ?

On the upside, Greencore Group (Xetra: 881630 - news) added 3.3 percent after the Irish food group reported a 21 percent rise in full-year profit lifted by higher revenue from its core convenience foods business, leading Investec Securities to raise its target price for the stock to 100 pence from 90 pence.

"Greencore has delivered a strong result from its base business and completed the integration of Uniq (Berlin: UGE.BE - news) , delivering synergies earlier than expected. The environment remains challenging, although Greencore expects to grow at a better rate than the UK grocery market. It should also see improvements in its US returns too," Investec (EUREX: INVF.EX - news) says in a note repeating its "buy" stance on the stock.

Interesting chart DC - thanks.

shame I cannot draw them. :-))

A buy in this weeks IC - Greencore looks set to deliver impressive growth and theres a decent dividend yield. Yet despite rising over 80% since January, the shares trade
on under seven times forecast earnings,that's too cheap.

Britain's bread industry turns stale

Supermarkets, hit by shoppers' reluctance to purchase, are pressuring their suppliers for cheaper products.

This winter, British bakeries are also having to deal with a poor wheat harvest caused by wet weather, following on from a spike in grain prices after a drought in the US and a heatwave in Russia.

According to Patrick Coveney, chief executive of Greencore, a leading manufacturer of convenience food for supermarkets, bread prices face "material inflation". The impact of this squeeze is already being felt by some of the UK's most famous food brands.

Hovis, which was created in 1886, will next year close two bakery sites in Greenford, west London, and Birmingham, which were built in the 1950s and 1960s. Alongside the closure of distribution centres by Premier Foods, the owner of Hovis, this will cost 900 jobs.

Interesting about the bread skinny.

05 Dec 2012Greencore Group PLC (2.5 P) ex dividend

12 month high today @97.50.

It would look better if you put a 1 or 2 infront of that 97.50 skinny. lol .

I see it actually uncrossed @98p!

Through a quid on good volume.

Disposal Completion Announcement
RNS
RNS Number : 6942U
Greencore Group PLC
02 January 2013





2 January 2013







Greencore completes disposal of its Minsterley facility to Müller





Further to its announcement of 15 June 2012, Greencore today confirms that it has now completed the disposal of its Chilled Desserts facility in Minsterley to the Müller Dairy UK group ("Müller") (the "Disposal").

A trading update next week (29 Jan) - There could be an upbeat update highlighting market share gains. For the year to Sept, Investec Securities Nicola Mallard forecasts 10.5% taxable profits growth to £60.5 million for 8% earnings improvement to 13.7p a share. Based on these estimates the shares languish on a prospective P/E ratio of around eight times. That implies scope for a rerating as debts reduce, while a well covered 4.6p dividend payout, equivalent to a juicy 4.3% yield.