UK-listed Greencore announces $750m deal for US frozen breakfast sandwich maker Peacock Foods November 14, 2016 Food supplier Greencore Group has agreed a $747.5m (£594.3m) takeover deal for Peacock Foods, a US company specialising in frozen breakfast sandwiches. Peacock, which also makes chilled meal kits for children and salad kits, generates revenues of approximately $1bn and reported adjusted earnings before interest, taxation, depreciation and amortisation (ebitda) of $72.1m in the year to [...]
Greencore Group bags The Sandwich Factory from Cranswick in tasty £15m deal July 25, 2016 Irish food group Greencore has bagged food-to-go producer The Sandwich Factory from Cranswick in a deal worth up to £15m. The Sandwich Factory, which operates from a single facility in Warwickshire, produces a range of products for convenience stores and food service channels. Its net revenue for the year ended 31 March was £42m. Greencore is already one [...]
Sushi and sandwich maker Greencore serves up a jump in quarterly sales January 26, 2016 Food supplier Greencore has recorded a 7.2 per cent jump in first quarter sales, boosted by new product launches and strong growth in its convenience food business. The company, which suppliers supermarkets with products ranging from sushi to cakes and yorkshire puddings, reported sales of £356m in the 13 weeks to 25 December 2015. Its convenience food [...]
Best of the Brokers for 30 November 2015 November 29, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com Analysts at Liberum have boosted payment systems company PayPoint to a “buy” rating after the company posted interim results in line with expectations. The firm’s been given a target share price of 1,000p, up from 935p currently. PayPoint shares reacted badly on Friday, [...]
Profits jump at food producer Greencore as sandwich orders pile up November 24, 2015 Sushi, salad and sandwich maker Greencore reported better-than-expected full-year profits after winning several new contracts in the UK food to go market and expanding its presence in the US. The food producer, which supplies retailers and supermarkets ranging from Marks & Spencer to Boots, said pre-tax profits increased by 33.8 per cent to to £59.4m in [...]
Contract wins help lift profits at Greencore May 19, 2015 FOOD supplier Greencore said that revenues rose 3.2 per cent to £639.8m, in the first six months to 27 March, despite a challenging UK market. The company, which makes own-label sandwiches and chilled convenience food for major supermarkets, said operating profit increased by almost eight per cent from £37.2m to £40.1m. The group has been [...]
UK growth lift as FTSE aims to test 7,000 level – London week ahead January 25, 2015 THE FIRST estimate of GDP growth in the fourth quarter of 2014 looks set to deliver good news this week, with growth of around 0.6 per cent on the previous quarter and 2.8 per cent year-on-year. Howard Archer, of IHS Global Insight, said: “Ongoing robust services expansion likely ensured that GDP growth held up pretty [...]
London Report: Home lending up but rise in UK prices is slowing July 27, 2014 MORTGAGE approvals figures appear likely to show the housing market is moving again, after tough new MMR loan tests slowed lending figures. However, house price data due on Thursday suggests prices may not be soaring as much as earlier this year. They are expected to have risen 0.5 per cent month-on-month in July – the [...]
Greencore splashes out on new factory to fuel growth in the US May 20, 2014 GREENCORE, the food group that supplies retailers with everything from sandwiches to Yorkshire puddings, announced plans to step up its expansion in the US as it reported an eight per cent rise in half-year revenues yesterday. The London-listed group, whose biggest clients in the US include Starbucks and 7-Eleven, said it will spend £20m on [...]
Paddy Power’s chief to stand down next year May 13, 2014 BOOKMAKER Paddy Power kicked off a search for a new chief executive yesterday after announcing that veteran boss Patrick Kennedy would step down in 2015 following nearly ten years in the role. “I have always had a personal view that after 10 years at the helm, change is good, both for the business and the [...]