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Pin to quick picksGreencore Share News (GNC)

Share Price Information for Greencore (GNC)

London Stock Exchange
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Share Price: 128.00
Bid: 129.00
Ask: 129.60
Change: -1.80 (-1.39%)
Spread: 0.60 (0.465%)
Open: 128.00
High: 129.80
Low: 128.00
Prev. Close: 129.80
GNC Live PriceLast checked at -

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HSBC upgrades Greencore to 'buy', shares rally

Wed, 24th Feb 2021 09:40

(Sharecast News) - Greencore rallied on Wednesday as HSBC upped its stance on shares of the Irish convenience food maker to 'buy' from 'hold' and lifted the price target to 170p from 120p as it argued the roadmap out of lockdown underpins a recovery in the food to go business.
"While individuals will not be able to enjoy a meal indoors until 17 May, we see the upcoming spring months as a turning point for demand for food to go (FTG) as a convenient option for people to consume food as they start socialising outdoors," HSBC said.

The bank said that while the government has not ruled out reintroducing restrictions at a local level if needed, the initial stage can be compared to the market conditions seen in October 2020.

"At that time, Greencore's FTG sales were still down 22% year-on-year but at a much better level versus Q4 20 (-29% year-on-year) and versus January 2021 (-35% year-on-year).

"We therefore see the announced roadmap as a set timetable and an opportunity for Greencore to start building back its FTG business and leveraging its improved supply chain as well as existing and new business opportunities."

As a result of improved visibility on a return to normality, downside risk to Greencore's earnings "reduces markedly", HSBC said.

At 0940 GMT, the shares were up 6.3% at 157.25p.

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IN BRIEF: Greencore completes GBP15 million share buyback programme

Greencore Group PLC - Dublin-based maker of package sandwiches and other convenience food - Completes GBP15 million share buyback programme. In October, Greencore started its share buyback programme as part of a GBP50 million return of capital to shareholders announced in May 2022. The buyback will run until March 30, at latest, with the maximum amount of shares bought back being 26.6 million.

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21 Feb 2024 14:08

IN BRIEF: Greencore Non-Exec Anne O'Leary buys 50,000 shares

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Director dealings: Greencore non-executive director makes share purchase

(Sharecast News) - Greencore revealed on Thursday that non-executive director Linda Hickey had acquired 50,000 ordinary shares in the London-listed food company.

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15 Feb 2024 10:41

IN BRIEF: New Greencore senior director buys GBP50,000 in shares

Greencore Group PLC - Dublin-based maker of package sandwiches and other convenience food - Senior Independent Director Linda Hickey buys 50,000 shares at GBP1.00, worth GBP50,000, on Tuesday. Hickey stepped up to senior director in January, replacing Sly Bailey.

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12 Feb 2024 09:41

LONDON BROKER RATINGS: Deutsche Bank starts Deliveroo at 'buy'

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25 Jan 2024 12:24

IN BRIEF: Greencore says annual profit will meet market expectations

Greencore Group PLC - Dublin-based maker of package sandwiches and other convenience food - Tells annual general meeting on Thursday that revenue declined by 4.7% annually in the first quarter of its financial year to GBP441.3 million. However, on a pro forma basis, which adjusts for the disposal of Trilby Trading Ltd in Ireland last year, revenue is down just 0.4%. On a like-for-like basis, it is up 5.8%. Greencore's largest category, food-to-go, has GBP293.7 million in revenue, up 0.9% on a both a reported and pro forma basis, while other convenience categories has GBP147.6 million in revenue, down 14%, or by 3.0% pro forma.

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Greencore holds guidance despite Q1 revenue fall

(Sharecast News) - Food supplier Greencore said it was in track to meet market expectations for the financial year, despite a fall in first-quarter sales.

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UK shareholder meetings calendar - next 7 days

Friday 19 January 
Cardiff Property PLCAGM
Character Group PLCAGM
Focusrite PLCAGM
Substrate Artificial Inteligence SAGM re investment agreement and issue of equity
Monday 22 January 
Highcroft Investments PLCGM re de-listing from LSE and relisting on TISE
Smart Metering Systems PLCGM & court meeting re takeover by funds advised by KKR
Tuesday 23 January 
C4X Discovery Holdings PLCAGM
Marston's PLCAGM
Mitchells & Butlers PLCAGM
Wednesday 24 January 
Henderson Far East Income LtdAGM
Lowland Investment Co PLCAGM
Tracsis PLCAGM
Thursday 25 January 
Alteration Earth PLCAGM
Britvic PLCAGM
Greencore Group PLCAGM
Henderson European Focus Trust PLCAGM
Ixico PLCAGM
  
Comments and questions to newsroom@alliancenews.com
  
A full 21-day events calendar is provided each day with a subscription to Alliance News UK Professional.
  
Copyright 2024 Alliance News Ltd. All Rights Reserved.

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Greencore signs new GBP350 million sustainability-linked facility

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