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/

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

Greencore Group PLC (GNC:LSE) set a new 52-week high during today's trading session when it reached 287.80. Over this period, the share price is up 185.29%.

Greencore: Jefferies raises target price from 275p to 320p maintaining a buy recommendation.

8 Apr Numis 309.00 Add

Shares -Greencore goes for US growth

Sandwiches-to-salads supplier offers an exciting play across the pond


Convenience food manufacturer Greencore (GNC) looks interesting ahead of next month’s (20 May) half-year results. Confirmation of continuing trading momentum on home turf as well as in the United States offer combined catalysts for forecast upgrades.

The Dublin-headquartered firm boasts strong market positions in the UK convenience food space, where it serves the ‘food to go’ sector and makes everything from chilled ready meals to sauces, cakes and Yorkshire puddings.

But it is the US market, where the company is expanding its footprint and growing sales at pace, that really excites. Across the pond, Greencore boasts a fast-growing food to go business serving convenience and small stores as well as grocery groups, with major customers including coffee house giant Starbucks and 7-Eleven.

Greencore: Investec cuts target price from 285p to 273p downgrading from buy to add.

Half Yearly Report


FINANCIAL HIGHLIGHTS



§ Group revenue of £619.8m, up 8.2% (as reported) and up 9.3% on a like for like1 basis

§ Convenience Foods like for like1 revenue growth of 9.6%

§ Group operating profit2 up 14.0% to £37.2m

§ Strong growth in adjusted EPS3, up 18.6% to 7.0 pence

§ Interim dividend of 2.20 pence per share, an increase of 15.8% versus H1 13

§ Net exceptional charge of £12.6m, of which £10.0m relates to non-cash items



STRATEGIC DEVELOPMENTS



§ Further build out of US food to go business with the acquisition of Lettieri's LLC ("Lettieri's"), investment in Jacksonville and announcement of new site construction in Rhode Island

§ Announcement today of major investment in Northampton food to go facility to facilitate new business win

§ Disposal of foodservice desserts business, Ministry of Cake


http://www.moneyam.com/action/news/showArticle?id=4813978

Investec ups Greencore to 'buy' from 'add'

Tue, 20 May 2014


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Greencore Group Quote more






Price: 259.00

Chg: 11.90

Chg %: 4.82%

Date: 16:52



FTSE 250 Quote


Price: 15,448.69 Chg: 69.25 Chg %: 0.45% Date: 16:48

Greencore, the manufacturer of convenience foods, delivered a 'good' first half result, with a strong 26 per cent increase in like-for-like sales at its Convenience Foods unit in the US, and there is increasing visibility on growth next year, Investec analyst Nicola Millard told analysts in a research note.

In particular, there was an improvement in margins at the Foods unit, including some improvement from low margin UK businesses. Nonetheless, comparatives for revenue growth will get tougher as the year progresses, especially in the fourth quarter, depending on the weather.

The increased visibility is a result from the US developments already announced but also of a new business win at Northampton, starting next year. As well, the group will extending its food-to-go site at a cost of £30m. Yet that will not increase expectations for net debt given that it will be funded asset disposals scheduled for the second half of the year.

On the basis of all of the above the broker has lifted its forecast for profit before tax (PBT) this year to £66.2m from £65.5m and for next year to £75.2m to £76.8m.

As a result of the aforementioned Investec increased its price-to-earnings ratio –based price target to 278p from 273p and, given recent weakness in the share price, upgraded the stock to ‘buy’ from ‘add’.

20 May Davy Research N/A Outperform

Greencore: Numis moves target price from 309p to 320p and stays with its add rating.

Trading statement Tues 29 Jul-Could make for pleasing reading in this weeks Shares mag