Get the app today! Download iPhone App Download Android App

Greencore In A Good Position To Bounce Back Next Year, Say Analysts

Published on Nov 24 2020 9:58 AM in Private Label tagged: Trending Posts / UK / Greencore / Shore Capital / Convenience Foods / Davy / Paywall

Greencore In A Good Position To Bounce Back Next Year, Say Analysts

A number of industry analysts have said that convenience foods giant Greencore should be in a strong position to bounce back post COVID-19, after the business posted a 14.3% pro forma decline in revenue in full-year 2019/20.

On a reported basis, revenue at the business was down 12.5% for the year, to £1.26 billion, while adjusted EBITDA fell by 40.1%.

Announcing its results, Greencore said that it plans to raise equity to the value of £90 million, which should "provide liquidity, leverage headroom and working capital to rebuild operations post COVID," commented Cathal Kenny, an analyst with Davy.

please subscribe or sign in to continue reading

image description

Try European Supermarket Magazine PREMIUM – 30 Day FREE Trial.

A trial subscription gives unrestricted access to all premium site content, app content, weekly email content and European Supermarket Magazine digital edition for a full 30 days. Try it now!

Share on Facebook Share on Twitter Share on LinkedIn Share via Email