Best of the Brokers for 26 March 2014 March 25, 2014 To appear in Best of the Brokers, email your research to notes@cityam.com GREENCORE Shore Capital sticks to its “hold” rating and 256p target ahead of the food group’s quarterly results on 2 April. The broker predicts double-digit growth in the “food to go” business, tempered by slower growth in ready meals, and expects to upgrade [...]
Greencore sales lifted by boom in convenience January 28, 2014 BRITAIN’S fast-growing convenience market helped boost sales at sandwiches to Yorkshire puddings-maker Greencore. The group’s convenience arm, which makes products such as salads for retailers including Marks & Spencer, posted a 9.1 per cent jump in like-for-like sales for the 13 weeks to 27 December. This helped boost overall sales by 7.2 per cent on [...]
Greencore draws a line under horsemeat as revenues rise November 26, 2013 GREENCORE posted a robust rise in full-year profits yesterday after recovering in the second half from a slump in the ready meal market caused by the horsemeat scandal. The food group, which makes own label products such as sandwiches and desserts for major supermarkets, said revenues increased by three per cent to £1.19bn in the [...]
All Irish eyes are smiling at debut London awards October 24, 2013 CITY slickers rubbed shoulders with celebrities yesterday lunchtime at the inaugural London Irish Business Awards ceremony, held at the London Stock Exchange. Organised by Ireland Inc, a private sector body set up to advance Irish business interests, the gathering handed out gongs to corporates and individuals it considered to have made an outstanding contribution to [...]
Best of the Brokers for 26 September 2013 September 25, 2013 GREENCORE Numis has given food company Greencore an “add” recommendation and lifted its target price to 153p ahead of its 26 November full year report. The analyst said plus points include “the absence of the horse meat issue and possible improvement from UK cakes & desserts.” TESCO Shares in Tesco fell 3.5 per cent yesterday, [...]
Best of the Brokers for 20 September 2013 September 19, 2013 GO-AHEAD Morgan Stanley has upgraded the bus and rail group from “equalweight” to “overweight” and raised its target price from 1,545p to 1,860p. The broker is enthused by Go-Ahead’s improving bus unit and sees an attractive free cash flow yield of 14 per cent from 2015. DAIRY CREST Make whey while the sun shines and [...]
Bumi slips out of FTSE 250 after index kicks out troubled miner September 11, 2013 COALMINER Bumi yesterday slipped out of the FTSE 250 at the index’s quarterly review, bringing an end to a deeply unsuccessful spell in the top tiers of British business. The company will now became a member of the FTSE Small Cap index. Set up in 2010 by Nat Rothschild, Bumi has endured a turbulent existence [...]
What the other papers say this morning – 1 August 2013 July 31, 2013 FINANCIAL TIMES Spotify burns through cash Spotify, the Swedish digital music service that has been valued at $3bn, doubled its revenues in 2012 but burnt through cash as it attempted to grab a bigger share of the fast-growing market. The company’s results show that its sales surged from €190.4m in 2011 to €434.7m in 2012, [...]
London Report: UK’s corporate calendar packed in results season July 28, 2013 THE CORPORATE calendar is packed this week, as businesses including ITV, BP, Lloyds, Barclays and Royal Bank of Scotland update the market amid a swathe of other results. The week begins with figures from Fidessa Group, Hammerson, InterContinental Hotels Group, Intertek Group, JKX Oil & Gas, Keller Group, Senior, Vernalis, Reckitt Benckiser Group, National Grid, [...]
Greencore rises on proof of no contamination February 18, 2013 IRISH food group Greencore’s shares bounced back by eight per cent yesterday after it said that tests had found no other traces of horsemeat in its products or at its convenience food sites. Shares in the company sunk more than 12 per cent at the end of last week when Asda withdrew its own- brand [...]