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/

A buy in this weeks IC - Greencore finally finds its stride.

The worst of the horse meat scandal is behind the company. Greencore's share price has appreciated strongly over the past 12 months as its fixed legacy issues and delivered on its growth objectives. While not as cheap as they once were, the shares still offer value, trading on 8.5 times forward earnings and underpinned by a prospective dividend yield of 4%.

Director buy


28/05 BUY GNC Greencore Group PLC Moloney, John Non Executive Director 25,000


Ex-Dividend
05 Jun 13 Greencore Group PLC [GNC] (1.9 p)

In this weeks Shares mag - One they think has further to run. The Us market in prepared food-to-go is 'real and growing' Robust trading , a strong balance sheet, excellent levels of cash generation, an attractive dividend yield.

Greencore Group PLC (GNC:LSE) set a new 52-week high during today's trading session when it reached 141.75. Over this period, the share price is up 86.14%.

Recovered very well since the horse meat scare.



Still a buy in this weeks Shares mag. Finals in Nov . Further forecast upgrades could be on the cards as the sandwiches -to- chilled meats maker updates on progress at its fast growing food -to-go business in the US. The firm has transformed its business across the pond through the acquisitions of MarketFare and Schau and by kick-starting a significant supply deal with Starbucks. For the year to Sept, Numeris Securities looks for 16.7% earnings per share (EPS) growth to 14.7p and a 4.95p dividend, ahead of 16% EPS progress to 17.1p and 5.6p shareholder reward in 2014.
Despite attractive forecast growth rates , Greencore trades on a single digit prospective Price /earnings PE ratio of 9.6 and a EV/ EBITDA ratio of 7.8. Weighing on sentiment is the £272.7m of net debt on the balance sheet as at 29 March as well as a £155.9 million net pension deficit, although ongoing debt reduction and further progress stateside offer powerful potential rerating catalysts.

Notice of Interim Management Statement

RNS


RNS Number : 6118J

Greencore Group PLC

18 July 2013


















GREENCORE GROUP PLC



Notice of Interim Management Statement





Greencore Group plc will release its next Interim Management Statement at 7am on Wednesday 31 July 2013.

A conference call for investors and analysts will be held at 8.30 BST on Wednesday 31 July 2013.

Interim Management Statement

Quarter 3 Trading
Trading during the quarter was in line with our expectations. The Group recorded revenue of £305.8m in the 13 weeks to 28 June 2013, an increase of 2.6% on the prior year.

Convenience Foods
The Convenience Foods division recorded revenue of £285.7m, 2.8% higher than the prior year. The revenue growth reflects both the contribution from acquisitions but also the impact of business exited, notably in the former Uniq chilled desserts activities.

In the UK, revenue was 1.3% lower than the prior year on a like-for-like basis (that is excluding both the acquisition of the International Cuisine business acquired in August 2012 and the Uniq desserts activities which were exited or sold).

Market conditions in the UK remained tough during Q3 with continued poor weather affecting the business for much of the period. Whilst the overall chilled ready meals market is gradually recovering from the impact of the horsemeat scandal earlier in the year, Italian ready meals remained in year-on-year decline affecting the Prepared Meals division. We have continued to focus on delivery of operating efficiencies and maintained tight cost controls across the UK business to mitigate these impacts.

In the US, revenues were more than 50% higher than in the prior year period. This growth reflects the impact of the acquisitions of MarketFare Foods and Schau, both of which are performing well, together with the commencement of food to go supply to Starbucks. This supply agreement is now fully live across the four sites envisaged.

Ingredients and Property
The Ingredients and Property division, which represented 6% of Group revenues in FY12, recorded revenues of £20.1m in Q3, in line with the prior year in reported currency and 3.6% lower on a constant currency basis. The molasses business continued to perform very strongly aided by poor weather.

Year to Date trading
In the 39 weeks to 28 June 2013, the Group recorded revenue of £878.7m, 1.5% ahead of the prior year. The Convenience Foods division recorded revenue of £827.8m year to date, 2.1% higher than the prior year.

Financial Position
The Group continues to operate with good headroom within existing debt facilities and remains focused on further de-leveraging throughout FY13.

Outlook
UK market conditions remained tough throughout the third quarter and the recovery in the ready meals market remained subdued. Whilst recent UK macro-economic data has been more positive and the weather has been more favourable, we still expect conditions to remain challenging. However, the Group is strategically well positioned with a balanced customer portfolio and exposure to faster growing convenience categories. With the tight operating and financial controls we have in place, we remain confident in our ability to deliver growth in adjusted earnings per share for the financial year in line with expectations.

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.

Greencore Group: Investec raises target to 166p from 130p, retains buy

31 Jul Davy Research N/A Outperform

FTSE 250 INCLUSION AND NOTICE OF FULL YEAR RESULTS

RNS


RNS Number : 5865O

Greencore Group PLC

23 September 2013






GREENCORE GROUP PLC



FTSE 250 INCLUSION AND NOTICE OF FULL YEAR RESULTS



Greencore Group plc ("Greencore") notes the recent announcement by FTSE that Greencore will enter the FTSE 250 index with effect from the start of trading today.



Greencore also confirms that it will release its results for the year ended 27 September 2013 at 7.00am on Tuesday 26 November 2013.



A presentation of the results will be made to analysts and institutional investors at 8.30am on Tuesday 26 November 2013 at Investec Bank plc, 2 Gresham Street, London EC2V 7QP.

Greencore Group PLC (GNC:LSE) set a new 52-week high during Friday's trading session when it reached 166.10. Over this period, the share price is up 85.07%.


Clearly over the horse meat scandal.

FTSE 250 movers: Greencore boosted by Starbucks expansion plans

Fri, 01 November 2013



Irish food company Greencore was a strong riser on the second tier, most likely due to the news that Starbucks is planning to expand its food range in the US. Greencore is one of Starbucks's main food suppliers, as well as being the biggest sandwich maker in the world, making this big news for the FTSE 250 group.

Full Year Results Statement


FINANCIAL HIGHLIGHTS

· Group operating profit1 up 8.1% to £76.5m;

· Group operating margin1 of 6.4%, a 30 bps increase;

· Strong growth in adjusted EPS2, up 13.3% to 14.5p;

· Proposed final dividend of 2.9 pence per share, giving a total dividend of 4.8 pence per share, up 12.9%; and

· Strong cash flow generation reducing net debt by £25.2m. Net debt: EBITDA leverage (reported basis) down from 2.75 times to 2.3 times.



OPERATIONAL HIGHLIGHTS

· Integration of Uniq completed with restructuring of the desserts business and disposal of Minsterley facility. Integration of International Cuisine completed; and

· US integrations completed and successful roll out of food to go range to Starbucks USA from four of our six facilities.




http://www.moneyam.com/action/news/showArticle?id=4712544

26 Nov Investec 202.00 Buy

A buy in this weeks IC - Greencore gains momentum

Last year proved challenging for ready meals maker Greencore after sentiment was hit by the horse meat scandal- although its own products tested negative for equine DNA. Despite that, adjusted pre-tax profit rose 11.8% to £61.6m. The company has cut its debt pile by £25m ,too. This year should prove easier as consumer confidence continues to recover and the group benefits further from US progress. With that positive backdrop, a forward PE 12 looks too low.

Greencore: Numis ups target price to 184p and keeps a hold recommendation.

Greencore Group PLC (GNC:LSE) set a new 52-week high during today's trading session when it reached 231.00. Over this period, the share price is up 117.82%.

7 Jan Investec 225.00 Add
6 Jan Goodbody 230.00 Buy

New high @253p.

28 Jan Goodbody 242.00 Hold
28 Jan Investec 240.00 Add

26 Feb Davy Research N/A Outperform
26 Feb Numis 265.00 Hold
25 Feb Investec 265.00 Buy