Greencore - Fear of Food’s Labour Lost
While recent market concern and potential negative newsflow for Greencore (GNC LN, BUY, T/P 310p) focused on the US, some market concern appears to remain that the UK business – while clearly one that enjoys sustained volume growth – may come under margin pressure due to higher employment costs. In particular, there is concern about the lack of availability of Central and Eastern European labour once the UK leaves the EU.Greencore Group is engaged in convenience food business. Co. provides a range of food to go products supplemented by other chilled, frozen and ambient foods to major retail and food service customers in the U.K. and the U.S. Co.'s operating segments include: Co.'s Convenience Foods segment consist of convenience foods U.K. and convenience foods U.S., which is engaged in the production and sale of convenience food; and Ingredients & Property, which is engaged in the distribution of edible oils and molasses and the management of Co.'s property assets. Co. has seven U.S. convenience foods facilities and 15 U.K. convenience foods facilities.
Whitman Howard is an independent institutional stockbroking and investment banking business focused on servicing the needs of our corporate clients and institutional investor base.
The company began trading in 2011 with a team of highly experienced market professionals and the goal of building a leading capital markets business in an entrepreneurial environment.
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