GNC1 Jun 2021 14:45
My pick is Greencore (LSE: GNC), the food-to-go specialist, whose share price plunged on interim results day. The company reported a £7.9m pre-tax loss for the first half, in a business still devastated by the Covid-19 pandemic. The market hated it.
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But Greencore expects to turn things round by the end of the year, and the liquidity is there. If the company can get back to 2019 earnings levels, we’d be looking at a P/E of around nine. I think that’s cheap. I rate Greencore a buy, and I’ve added it to my ISA shortlist.