Share Name Share Symbol Market Type Share ISIN Share Description
Greencore Group LSE:GNC London Ordinary Share IE0003864109 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -1.00p -0.44% 228.00p 227.20p 227.60p 229.70p 218.30p 229.70p 8,628,343 16:35:15
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Food Producers 1,481.9 48.2 11.6 19.7 1,600.78

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DateSubject
29/4/2017
09:20
Greencore Daily Update: Greencore Group is listed in the Food Producers sector of the London Stock Exchange with ticker GNC. The last closing price for Greencore was 229p.
Greencore Group has a 4 week average price of 218.30p and a 12 week average price of 218.30p.
The 1 year high share price is 390p while the 1 year low share price is currently 215p.
There are currently 702,096,686 shares in issue and the average daily traded volume is 8,685,383 shares. The market capitalisation of Greencore Group is £1,600,780,444.08.
12/12/2016
14:58
typo56: I'm not sure the share price going up counteracts the premise, because of course GNCN will track GNC (so if you take up the rights you'll be giving up more value you could have received for the nil paids).
08/12/2016
09:14
maramara: why did the share price drop by 19% today?
17/11/2014
22:24
mickeyb: Sfox1 so you've obviously opened a short and you are just spouting scaremongering phrases hoping to try and shake some Pi's into panic selling. Finals for Greencore are being issued on Tuesday 25th November 2014, lets see if there will be good news. FWIW I believe the Share price is likely to start rising at the end of this week and into next week and then depending on the level of profits reported the share price will either go up or down.
19/5/2014
05:41
wexboy: Company: Greencore Group Prior Post(s): 2012 & 2013 Ticker: GNC:LN Price: GBP 261p Aah, Greencore – my bete noire, my dodgy egg sandwich... How astonishing & ridiculous is it to note GNC's quintupled since my first TGISVP review a little over two years ago. Can selling sandwiches to supermarkets really be that exciting?! I think bloody not... FY-2013 was virtually acquisition-free for Greencore, so 3.0% revenue growth's probably fairly representative of its actual growth potential. [And all this growth came from the US - the UK, Greencore's main market, was basically stagnant]. Granted, operating profit increased 8.1%, and adjusted EPS by 13.3% – quite respectable, but the bottom-line won't sustain this level of out-performance with that kind of top-line growth. And the company's tax rate is now an astonishing 1% (due to the utilization of Uniq tax losses) – a reversion to a more normal tax rate, in due course, will prove an enormous headwind. The other big problems here are poor cash flow & excessive leverage. Plus the company's recurring exceptional (?!) expenses, of course – noting the relentless quest for lower unit costs, coupled with the usual margin pressure from the supermarkets, I don't expect these to end anytime soon. Greencore reported an operating margin of 6.4% (which tells you a lot about the reality of their business anyway), but operating free cash flow (Op FCF) margin came in at just 3.8% (mostly due to GBP 20 million of exceptional cash expenses). And that's no once-off phenomenon – 2012 Op FCF margin was 4.8%, while 2011 was only 1.4%. Awarding a 0.4 P/S multiple is quite generous, in the circumstances. Of course, we'll adjust for the company's excessive leverage: Interest expense (at GBP 15.6 M) is a whopping 34% of Op FCF – we'd need to see total debt (of almost a quarter of a billion) cut by around 56% (or 138 M), to limit interest expense to 15% of Op FCF. We'll also throw in a net pension deficit of, coincidentally, another 138 M. [It's worth noting, in terms of potential future volatility, gross pension assets & liabilities are in a pretty daunting range of 400-500 M. btw Greencore also has a net payables position of almost 200 M - if suppliers ever turn nervous, this could turn into another funding headache]. This gives us: (GBP 1,197 M Revenue * 0.4 P/S – 138 M Debt Adjustment – 138 M Net Pension Deficit) / 406 M Shares = GBP 50p To me, Greencore continues to look ridiculously over-valued – I never learn, do I..? But I have to ask – why exactly does it deserve an 18.4 P/E?! [Based on adjusted diluted EPS. NB: For once, basic EPS is higher than adjusted EPS, but that's due to exceptional tax credits]. Considering the history of cash flow shortfalls, I think it's entirely appropriate to focus on free cash flow (FCF) here, rather than reported EPS. FY-2013 FCF amounted to a mere GBP 31.6 M (and 2012 FCF of 42 M wasn't much better in absolute terms) – that puts GNC now trading on 33.6 times FCF, vs. the 6.4 FCF multiple implied by my target price. OK, one might argue both multiples sound equally crazy – but for an obviously over-leveraged sandwich maker, I'd happily bet underlying intrinsic value's far bloody closer to my multiple than the market's. In all likelihood, the outcome will be binary here: Investors often prefer to keep believing in the emperor's new clothes. As the all too familiar circular logic goes, the share price went up...so it must be a great company, right?! Well, unless things go horribly wrong (or a short selling research firm publishes a report)...then everybody will suddenly want to put the boot in! Price Target: GBP 50p Upside/(Downside): (81)%
17/3/2014
15:59
mickeyb: A 1 million trade at 266 gone through earlier today, share price slowly rising is that the end of the large sell trades and a recovery back to a rising trend.
25/1/2014
20:52
richtea1701: Workforce to double at greencore's Jacksonville facility. They are getting busy. Results this week. Reckon they will be ok - if share price drifts further I will have to scrabble some pennies together and get more of these beauts.
15/2/2013
16:07
grizzly bare: Dusseldorf ... this is about horse meat! That's why the share price collapsed to 80p at one point this morning. If the horse meat issue had not arisen this morning and an RNS issued today this share would be trading today at over £1.00. But I agree. With all share purchases be careful, never expose yourself too much to a single share or sector no matter how inviting it looks... and indeed set a stop loss.
20/12/2011
01:43
wexboy: Looks like this thread is finally reviving... I read the article mentioned, but I think it's revealing that the key quote is: '...so much will depend on the firm's share price. If it were to dip south then it is possible we would see some renewed interest.' I agree! After GNC added further ruination to their B/S with the Uniq deal they will need to reach/trade well below fair value before anybody contemplates taking them out at a decent premium...and the current share price sure ain't at fair value, in my opinion! If you have a spare moment, please check out my new value investing blog which includes 2 recent articles on Greencore: wexboy.wordpress.com Plenty of stocks I'm positive on too, so if you like (any of) what you see, I'd appreciate all comments, recommendations, links etc. Cheers, Wexboy
27/6/2011
19:57
caveat_emptor: Could be that GNC will be take private as well!!! Or maybe Northern Foods rolled back into GNC, effectively re-listing NF? Ranjit Singh Boparan, of BH Foods, appears to be executing a brilliant strategy!!! He was stoutly rebuffed by the City when he first went after NH last January, yet ended up winning, bid 90% above the then NH share price, and had the cash to back it up.
09/11/2010
12:45
lochgarman: wooly.i am invested about 2 years now..my average buy is 1.10 or so. with that free cashflow the share price is totally bonkers. The market will wake up one of these days. I have some pfd also but lost my shirt there. The cash and profits to come will lift this share price!dont you worry :-)
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