DAVY VIEW

In conjunction with its full-year 2020 results, Greencore has announced an equity raise of up to £90m – the proceeds will provide liquidity, leverage headroom and working capital to rebuild operations post COVID. The equity raise follows a challenging trading period through October and November as regional and national restrictions impeded volume recovery in the key food-to-go category. Headline FY 2020 results were pre-announced on October 5th and highlighted an improving trendline through Q4 in a more normalised environment.