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Greencore Group

244.00+7.4%1Y · GBX

Greencore Group plc manufactures and sells convenience food products in the United Kingdom and Ireland through its subsidiaries. Its range includes sandwiches, salads, sushi, chilled snacks, chilled ready meals, chilled soups and sauces, chilled quiche, ambient sauces and pickles, and frozen Yorkshire puddings. The company also engages in finance, pension funding, food processing, and property activities. It supplies supermarkets, convenience and travel retail outlets, discounters, coffee shops, foodservice operators, and other retailers, and is headquartered in Dublin, Ireland.

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Climate Adaptation & Water▲

Supermarket bosses call for legally binding targets to boost UK food production

Supermarket bosses are calling for Andy Burnham to set legally binding targets to increase the proportion of fruit and vegetables grown in Britain by 2040. The chief executives of Tesco, Waitrose, Sainsbury's, Aldi and the Co-op have written to the Prime Minister warning that wildfires and extreme weather are putting Britain's food supplies at risk. At least half of the nation's imported fruit and vegetables currently come from countries facing extreme water scarcity, the bosses warned. The letter, drafted by the Food Foundation and signed by more than 100 organisations including Danone and Greencore, urges the introduction of a good food bill that would require local authorities to plan for continued food supplies during extreme weather and mandate consideration of food security across government decisions. It also calls for legally binding targets on reducing childhood obesity and increasing children's fruit and vegetable consumption.
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Climate Adaptation & Water › Climate-Resilient Agriculture & Food ▼Supply
Climate Adaptation & Water › Precision Irrigation & Water-Efficient Systems ▲Demand
SBRY.LSE · Demand · Positive Sainsbury's CEO co-signed the letter; the call for legally binding targets could support UK food production, potentially benefiting its supply chain and sales.
TSCO.LSE · Demand · Positive Tesco's CEO co-signed the letter; the push for increased UK food production could enhance its supply resilience and align with consumer preferences.
Aldi · Demand · Positive Aldi's CEO co-signed the letter; the call for legally binding targets to boost UK food production could improve supply chain stability and customer appeal.
BN.PA · Demand · Positive Danone, as a signatory, could benefit from policies promoting local food production and healthier consumption, potentially increasing demand for its products.
GNC.LSE · Demand · Positive Greencore, as a food manufacturer, could benefit from increased demand for UK-produced food if the proposed targets boost local sourcing.
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The Telegraph·67dRead more →
GNC.LSE▲

Greencore raises annual profit forecast on volume growth ahead of market

Greencore has raised its forecast for annual adjusted operating profit from continuing operations to a range of £234 million to £242 million, above current market expectations, after reporting volume growth that outpaced the wider grocery market in its fiscal third quarter. Group revenue on a pro-forma basis reached £1.02 billion in the 13 weeks ended 26 June, up 3.2% year on year, with volume and mix contributing 2.3 percentage points of growth and price and inflation recovery adding 0.9 points. The company said underlying profit momentum at both the legacy Greencore and recently acquired Bakkavor businesses was ahead of expectations, supported by growing volumes, improved margins and cost control. The acquisition of Bakkavor created a combined private-label food business with roughly £4 billion in revenue, supplying major supermarkets including Tesco, Sainsbury's, Asda, Waitrose and Marks & Spencer. Greencore shares surged 11.6% in morning trading following the update, and the company noted that fourth-quarter trading has started positively with continued volume momentum and early cross-selling progress.
GNC.LSE · Demand · Positive Volume growth outpaced the wider grocery market, driving profit forecast upgrade.
Bakkavor Group plc · Demand · Positive Bakkavor's underlying profit momentum ahead of expectations, supported by growing volumes.
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Just Food·75dRead more →