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.
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