Greencore Group

Cost and cash measures in response to COVID-19

  • Sectors : Foods
  • Companies : Greencore Group

Ratings and price correct at time of issue.

  • Greencore Group

    Closing Price: 171p

  • RATING 13/03/18

  • PREVIOUS RATING 20/06/13



The marked reduction in demand for Food-to-Go (FtG) products is not unexpected given its strong dependence on workforce footfall. Growth in longer-lived products will only partially offset the decline. In response to COVID-19, Greencore is adjusting its production network and furloughing impacted employees. Full-year guidance has been removed and the interim dividend will not proceed. Planned capex projects will be deferred, while the Board and management teams have agreed to a temporary reduction in pay. A newly agreed short-term committed debt facility increases the group’s liquidity to £265m.

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Mar 30 2020, 09:10 IST/BST