Buy says Sunday Times tip yesterday12 Jun 2023 08:05
(Sharecast News) - The Sunday Times's Lucy Tobin tipped shares of Greencore to readers.
The sandwich maker's share price had been pummeled in the wake of workers' exodus from the office during and after the pandemic.
They had fallen from £2.60 a share in January 2020 to 80p at present.
Yet commodity prices were easing and according to the British Sandwich and Food To Go Association, Britons' consumption of sandwiches had since recovered to 85% of their pre-pandemic level.
Homeworkers were also said to be spending more on easy lunches, predicting that the overall food-to-go market would be worth £19.8bn by the end of 2023 or 8% more than in 2019.
Furthermore, its net debt had been trimmed and the company was now returning capital and buying back shares.
The trend in operating profits was also pointing higher.
"Sarnies might not improve with age, but Greencore should see tasty growth over the next few years: buy."