Greencore Group (CDI) (GNC)

Sector:

Food

Index:

FTSE Small Cap

132.40p
   
  • Change Today:
      0.60p
  • 52 Week High: 134.80
  • 52 Week Low: 68.75
  • Currency: UK Pounds
  • Shares Issued: 468.03m
  • Volume: 81,845
  • Market Cap: £619.67m
  • RiskGrade: 233
  • Beta: 0.01

Greencore reports 3% fall in full-year profits

By Benjamin Chiou

Date: Tuesday 28 Nov 2023

LONDON (ShareCast) - (Sharecast News) - Convenience food manufacturer Greencore reported a slight fall in adjusted profits for the full year to 29 September as margins slipped and finance costs rose.
Revenues were up 10% year-on-year at £1.9bn, helped by underlying volume growth, including net new business wins and prices increases as a result passing through significant levels of cost inflation.

Manufactured volumes were up 0.5% which it said was a strong result relative to the wider market.

However, adjusted pre-tax profit was down 2.8% at £58.1m as a result of higher finance costs, while the adjusted operating margin declined 20 basis points to 4.0%.

Chief executive Dalton Philips said he was "encouraged by our FY23 performance and the progress across the business".

"In a challenging market environment, we have stabilised the business, and made good strategic progress. The group delivered above-market volume growth, despite exiting a number of low margin contracts. We also successfully mitigated and recovered the majority of our input cost inflation through effective operational and commercial initiatives."

Looking ahead, Philips said he was "pleased with the start to the year" and remains confident in delivering full-year results within the range of current market expectations.

The stock was down nearly 4% at 97.5p by 0833 GMT.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

GNC Market Data

Currency UK Pounds
Share Price 132.40p
Change Today 0.60p
% Change 0.46 %
52 Week High 134.80
52 Week Low 68.75
Volume 81,845
Shares Issued 468.03m
Market Cap £619.67m
Beta 0.01
RiskGrade 233

GNC Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
79.18% below the market average79.18% below the market average79.18% below the market average79.18% below the market average79.18% below the market average
76.92% below the sector average76.92% below the sector average76.92% below the sector average76.92% below the sector average76.92% below the sector average
Price Trend
25.55% below the market average25.55% below the market average25.55% below the market average25.55% below the market average25.55% below the market average
100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average
Income
43.04% below the market average43.04% below the market average43.04% below the market average43.04% below the market average43.04% below the market average
71.43% below the sector average71.43% below the sector average71.43% below the sector average71.43% below the sector average71.43% below the sector average
Growth
2.27% below the market average2.27% below the market average2.27% below the market average2.27% below the market average2.27% below the market average
15.38% above the sector average15.38% above the sector average15.38% above the sector average15.38% above the sector average15.38% above the sector average

What The Brokers Say

Strong Buy 1
Buy 3
Neutral 5
Sell 0
Strong Sell 0
Total 9
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

GNC Dividends

  Latest Previous
  Final Interim
Ex-Div 02-Jan-20 30-May-19
Paid 28-Feb-20 03-Jul-19
Amount 3.75p 2.45p

Trades for 01-May-2024

Time Volume / Share Price
11:15 77 @ 132.86p
11:04 3,748 @ 132.57p
11:00 16 @ 132.40p
11:00 244 @ 132.40p
11:00 1,685 @ 132.40p

GNC Key Personnel

CEO Dalton Philips

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