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/

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

Interim Management Statement

RNS


RNS Number : 5495N

Greencore Group PLC

29 July 2014




29 July 2014

Greencore Group plc - Interim Management Statement



Continued good revenue growth - on track to deliver adjusted EPS in line with expectations



Greencore Group plc ("the Group") today issues its interim management statement for the period to 29 July 2014. Trading information relates to the 13 weeks to 27 June 2014 ("Quarter 3" or "Q3") and the 39 weeks to 27 June 2014.



Quarter 3 Trading

The Group recorded revenue of £326.4m in the 13 weeks to 27 June 2014, an increase of 6.7% on the prior year on a reported basis and an increase of 7.5% on a like for like basis.1



Convenience Foods

The Convenience Foods division recorded revenue of £310.5m, 8.7% higher than the prior year on a reported basis and up 9.3% on a like for like basis.



In the UK, like for like revenue was 10.1% higher than in the prior year. While the overall grocery market remained challenging, the food to go market was buoyant throughout the period driven in part by growth in small store formats. Activity with several key customers resulted in the Group outperforming the food to go market. Both the Prepared Meals and Grocery businesses recorded modest improvement in revenue growth trajectory versus H1. The extension of the existing facility in Northampton is on track and plans are well advanced for the adjacent new build.



In the US, constant currency revenue was 16.9% higher than in the prior year, including the contribution from Lettieri's. Following the planned exit of a set of non-core product lines during the period, like for like growth was 4%. The extension of our Jacksonville facility has now been completed with first customer shipments delivered in late July. Construction has commenced on the new facility in Rhode Island, with the project on track for commissioning in late Spring 2015.



Ingredients and Property

The Ingredients and Property division, which now represents less than 5% of Group activity, recorded revenues of £15.9m in Q3, £4.2m (20.9%) lower than the prior year in reported currency and 18.2% lower on a constant currency basis.



Year to Date Trading

In the 39 weeks to 27 June 2014, the Group recorded revenue of £946.2m, 7.7% ahead of the prior year on a reported basis and 8.5% ahead on a like for like basis. Year to date revenue in the Convenience Foods division was £898.4m, 8.5% higher than the prior year on a reported basis and up 9.3% on a like for like basis.



Disposal Activity and Financial Position

During the period, the Group completed the disposal of its foodservice desserts business, Ministry of Cake, for upfront cash consideration of £8m and deferred consideration of up to £3m.



The Group has also concluded an agreement in connection with the sale of residential land in Littlehampton, West Sussex. Net proceeds of approximately £16.5m are expected to be received in the current financial year. The Group has retained land with commercial planning consent and will look to market this by 2017. While this will result in a non-cash charge of approximately £3.5m against the carrying value of investment property, the resolution of other legacy matters in the half will fully offset this amount.

The Group is operating with good headroom within existing debt facilities and remains focused on further de-leveraging whilst taking opportunities to invest in future development in support of its customers.




____________

1 “Like for like” excludes revenue from the desserts activity which was sold to Müller Dairy UK Group and from Ministry of Cake, excludes revenues from Lettieri’s in the US and is expressed in constant currency.



Outlook

The Group continues to trade well and we remain confident in our ability to deliver adjusted EPS growth for the financial year in line with market expectations.

30 Jul Numis 320.00 Add

05/08/2014 BUY Gary Kennedy CH 10,000

Signal Update

Our system’s recommendation today is to STAY LONG. The previous BUY signal was issued on 29/10/2014, 7 days ago, when the stock price was 257.1000. Since then GNC.L has risen by +3.73%.

Market Outlook

The bulls are in full control. The negative sentiment that led to the last bearish pattern has evaporated. Besides, the signal is suggesting to STAY LONG. It is best to follow the signal and continue to hold this security.


http://www.britishbulls.com/SignalPage.aspx?lang=en&Ticker=GNC.L

Full Year Results Statement

FINANCIAL HIGHLIGHTS

· Group revenue of £1,273.5m, up 6.4% (as reported) and up 7.4% on a like for like1 basis

· Convenience Foods revenue of £1,213.4m, up 8.4% on a like for like1 basis

· Group operating profit2 up 11.4% to £82.9m

· Group operating margin2 of 6.5%, a 30 bps increase

· Net exceptional charge of £11.4m, of which £8.3m relates to non-cash items

· Growth in adjusted EPS3 of 13.6% to 15.9p

· Proposed final dividend of 3.25 pence per share, giving a total dividend of 5.45 pence per share, up 13.5%

· A reduction in net debt of £20.7m to £212.1m with net debt: EBITDA leverage comfortably below 2.0 times



STRATEGIC DEVELOPMENTS

· Further build out of US food to go business with the acquisition of Lettieri's LLC ("Lettieri's"), investment in frozen production in Jacksonville, new site construction in Rhode Island and the announcement today of the development of our first West Coast facility

· Major multi-year investment programme in Northampton food to go facility to facilitate new business win and meet market growth

· Disposal of foodservice desserts business, Ministry of Cake




http://www.moneyam.com/action/news/showArticle?id=4929341

bit late but am in on ride DC.,.

Also IAP today, take a look.,.

There's room on the bus Bb :-))

Sharecast -

Greencore FY revenue jumps as firm continues US expansion

Tue, 25 November 2014


Food business Greencore Group revenue rose 6.4% as the company continues its expansion to drive in the US.
The firm, which supplies sandwiches to chains such as Starbucks and 7-Eleven, said revenue for the year ended 26 September was £1.27bn, while group operating profit rose 11.4% to £82.9m and adjusted earnings per share were 15.9p, a 13.6% increase year-on-year.

"This has been a year of strong strategic, operational and financial progress for Greencore," the group's chief executive Patrick Coveney said.

"The group's focus on extending our leadership in the food to go market is yielding great results, with like-for-like revenue growth in that area of the business exceeding 15%.

"We have strong market positions, a clear strategy, and are continuing to lay the foundations for future growth through a significant capacity and capability investment programme in both the UK and the US."

The London-listed company also announced it was set to develop its first plant on the West Coast of the US. The facility, located in the state of Washington, will cost £20m and is expected to increase production capacity and enable the firm service a newly-acquired contract.

Greencore said it was proposing a final dividend of 3.25p per share, giving a total dividend of 5.45p per share, up 13.5% from the previous financial year.

Greencore shares were 1.77% up to 264.80p at 08:56 on Tuesday.
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Greencore: Investec places its target price (prev.: 275p), while staying with its buy recommendation.

GNC Greencore Grp nice to have some defensives food producers in the folio, strong results today should build on gain.

Cheers for the above goldfinger.

No probs.

Greencore Group broker views

Date Broker Recommendation Price Old target price New target price Notes
25 Nov Investec Buy 275.25 278.00 - Reiterates
24 Nov Goodbody Hold 275.25 - - Reiterates
18 Nov Davy Research Outperform 275.25 - - Reiterates

Greencore: Investec ups target price from 278p to 295p and maintains its 'buy' recommendation.

Top bombing.

1 Dec Berenberg 325.00 Buy

Greencore: Numis downgrades from 'add' to 'hold' with a target price of 296p.

Greencore: Investec ups target price from 295p to 315p and maintains a 'buy' recommendation

hope your right dc.,.

Nothing to do with me. lol