Greencore ‘set for growth over next two years’, says analyst
Chilled food manufacturer Greencore is set for significant growth over the next two years, according…Chilled food manufacturer Greencore is set for significant growth over the next two years, according to city analyst Shore Capital.
“Recent years have held a degree of turbulence for the group, but today we see it as a growth company that is strongly cash-generative and financially robust,” said Shore Capital’s Clive Black and Darren Shirley.
‘Materially strengthen its balance’
The firm had scope to “materially strengthen its balance sheet further still over the next 18−24 months”, they added.
The group had been strengthened through the effective integration of the Uniq acquisition.
While Black and Shirley said they had a“stronger conviction” for the group’s UK prospects than for those in thee US, they considered that its acquisitons of Marketfare in April and HC Schau in June had strengthened its US position.
Shore Capital repeated its ‘buy’ recommendation on Greencore’s stock.
