Greencore Share Discussion Threads

[cheaky monkey] 27/3/2013 15:50

Sold yesterday:-( GLA

[aleman] 27/3/2013 15:49

Shorters getting squeezed out now?

[wexboy] 26/3/2013 02:18

2013 – The Great Irish Share Valuation Project (Part VIII)

I take a look at Greencore Group, plus a batch of other Irish stocks:



Cheers,

Wexboy

[dusseldorf] 25/3/2013 11:10

didn't drop through the support so my small short is closed - good luck all

[ivyhuang] 22/3/2013 15:04

Grizzly, good work. What predication will be if correlate the peak in this year with that in 2012.

[grizzly bare] 21/3/2013 17:29

Down a penny on the day to 96.5p... a bit nearer that green line but not yet on it!

[grizzly bare] 21/3/2013 07:53

Well kicking off today at 97.5p

Green line support still intact. Just need to start to move upwards again!

Maybe we'll hit that green line first and get a nice bounce off it!

The market generally is my concern... not Greencore, but it could get dragged down with the market with the Cyprus thing unresolved.

[dusseldorf] 13/3/2013 10:09

I still have a small short (opened 89p - have a stop loss at 110p that was close to being triggered), but my instinct is still the drop was not horse related only accelerated due to horsey news.

After any acquisition the overheads go up (synergies are not immediate, normally opposite), there are redundancies, there are 'surprises' and the next results rarely show the blue sky everyone hopes for, it takes time. Given the significant increase in debt the company perhaps is trading closer to the wind than some may like.

We'll see, either this is a blip on the way up, or it's a genuine turn of sentiment - I agree the support appears to be around 95p - if it hasn't dropped through in next two weeks I'll probably just close

[grizzly bare] 13/3/2013 10:09

Greeencore's business mix...

[grizzly bare] 12/3/2013 22:42

Broker Panmure Gordon expects adjusted pre-tax profit of £63.9m for 2013, giving adjusted EPS of 14.6p (2012: 12.6p).

That's plenty of cover for the nice dividend. These shares look cheap at 100p now the horse meat issue seems to be out of the way. They would be 120p+ if this issue had not arisen.

The main question now is to what extent the public have changed their shopping basket as a result of the horse meat scandel and what knock on effect this will have on Greencore range of products, only £1million worth of which were involved in recall.

Here's the chart showing green line support..... showing support at about 95p.

[grizzly bare] 12/3/2013 13:24

Well I am back in at 97p and 98p so fingers crossed the horse meat is dead and buried... but not in the minced beef!

[martinc] 08/3/2013 16:05

It looks like a classic buying opportunity - a one-off event that won't be repeated, but which knocks the price back. Still investigating before I buy more!

[pitball] 06/3/2013 11:29

Small piece on Bloomberg tv this morning use this opportunity to buy greencore. Still a very good growth story.

[aleman] 06/3/2013 10:33

They haven't put something in that isn't allowed at all. They've exceeded the 1% limit on £300k worth of product by a factor of 5. Supermarkets are always exceeding limits with various products, e.g. not enough pork in pork sausages, too much salt in ready meals. On other products they mislead, like fake cheese on pizzas. Tests on restaurant food have found much doesn't live up to claims like organic or local. If it tastes nice and isn't dangerous, lots of people don't care. If you don't ask for cod or haddock at chippies now, you get hake or coley. People buy meat and potato pie from cafes or meat dishes from Indian takeaways and don't seem to worry about exactly what the meat is.

I think the horsemeat scandal damages regulators more than anything else. It was the topic in the pub for one week. I don't think it will have any affect on results. Finsbury withdrew cakes from shelves over fears from contaminated German butter. That was a mor eimportant supplier health issue but had no noticeable effect on overall results. There didn't seem to be any supermarket "payback".

[craffert] 06/3/2013 08:20

the risk is that customers of GNC say to them "you stuffed up" and demand better terms for the rest of 2013 and 2014. Why wouldn't the multiples demand some payback for the damage to their reputations (even though the drive for lower cost food by those same multiples is at least in part to blame for a small number of food manufacturing companies taking short cuts)

[aleman] 02/3/2013 20:29

I don't agree. My pub chats with friends suggest most people don't give a stuff about it. It was just an easy story for the media to scaremonger over and the % in most products has turned out to be tiny, with up to 1% seemingly being the accepted limit anyway, worryingly. Greasy burger eaters will still eat them as everybody has always eaten them despite wondering about their contents. Takeaway eaters will still buy takeaways. Bolognese /ready meal buyers will assume it's sorted and still buy the same type of supermarket products. Given it's a non-event, I think a 15p fall isn't a good recovery. although it is probably still a buying/top-up opportunity. I've already done that, though.

I make consensus of 3 brokers updating since the scare broke as 15.5p earnings and 5.3p dividend for 2014 so I'm not the only one who thinks it's a non-event.

[carstairs2] 02/3/2013 12:28

Good recovery after the Horse meat scare

[blueball] 28/2/2013 19:47

Naked Trader bought yesterday.

[grizzly bare] 22/2/2013 17:01

Well bailed out of these yesterday at 102p having bought at 87p last Friday.

If it drops back to 95p I shall be back again.

[ukinvestor220] 20/2/2013 18:12

PDMR bought 25K @ 105.6 today

[wllmherk] 20/2/2013 10:28

that is me out. nice few days work. Bought in at 85p last Friday and sold today 104.5p.

wllm

[grizzly bare] 20/2/2013 09:07

105p... nice!

[grizzly bare] 18/2/2013 23:42

Twixy - you dont need a bigger pair you made a good one day profit. Do that every day and you'll be rich.

I hung on in because I know this share well and there is nothing fundamental wrong with it at 100p to 120p. The early morning RNS confirmed there was nothing to worry about.

I have many a time exited a share too early... or indeed too late.

And I may be wrong here... my profit is not yet banked!

But in at 87p and then 100p 2 days later is looking good!

[thegameofmoney] 18/2/2013 19:01

Human nature. I only got in on a small spread bet, haven't made as much on this over sell as I did on TNI back in October on rumours of a few phone hacking allegations.

[twixy] 18/2/2013 18:48

Grizzly Bare - well done; I think I need to grow a bigger pair ;-)