Dalton Philips, chief executive of Dublin-based but London-listed convenience foods group Greencore, has been chosen as Business Person of the Month for October, an award run in association with Bank of Ireland.
On October 8th, Greencore’s shares soared to their highest level since the outbreak of Covid-19 in early 2020 as the maker of sandwiches and ready meals said its 2024 earnings estimates would beat analysts’ expectations for a third time.
The group said its adjusted operating profit for its financial year to the end of September 2024 should come in between £95 million (€113.2 million) and £97 million, up from its previous forecast of £88 million-£90 million. It had previously raised projections in May and July.
Analysts suggested that Greencore may see its earnings rise towards its pre-pandemic peak of £105 million in its current financial year. Mr Phillips had targeted reaching that level in 2026.
Greencore’s shares on the day closed 8.8 per cent higher at £1.96. They have since nudged up to £2 a share.
Shares in Greencore have more than doubled in value so far this year as it continues to recover from a series of hits since 2020, including the Covid-19 pandemic, supply-chain and labour issues, and soaring inflation.
“As we enter the new financial year, our focus remains on making really great food, rebuilding our profitability, and positioning Greencore to be the UK’s leading convenience foods manufacturer,” Mr Philips said.
