Greencore Group

FY results in line – against a more subdued revenue environment

  • Sectors : Foods
  • Companies : Greencore Group

Ratings and price correct at time of issue.

  • Greencore Group

    Closing Price: 248p

  • RATING 13/03/18

  • PREVIOUS RATING 20/06/13

    OUTPERFORM

DAVY VIEW

Greencore delivered an in line FY 2019 result. Good underlying free-cash conversion was notable. It exited FY 2019 with slowing top-line momentum as market conditions in the UK remained challenging. We are broadly comfortable with the shape of our FY 2020 forecasts – though we believe it will be 2021 before Greencore meets its medium-term targets.

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Nov 26 2019, 08:20 GMT

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