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Jan 9 2020, 06:30 GMT
Across our coverage universe, the incidence of slowing growth has become more commonplace. Greencore’s recent trading proves this dynamic and prompts us to test its medium-term revenue growth targets. To achieve its ambitions, Greencore needs to extend its product proposition beyond the core flywheel into higher growth adjacencies and channels. With modest margin expansion anticipated, revenue growth and capital allocation become key determinants in achieving medium-term EPS targets.