Monday , February 6 2023

Shareholders approve Greencore's sales but question strategy


The most urgent criticism of Greencore's board meeting at the extraordinary general meeting Wednesday to punish US business sales was that it lacked strategies.

Several investors complained about the impact of the tax on GBP 509 million offered by the company to dividend holders with a value of 72 feet per share resulting from the sale.

But the board seemed to be the most merciless with the suggestion that its high volume of dividend revenue generated a lack of visibility as to where to go. Patrick Coveney, the lead artist, who is usually so expressive about the company's prospects, should have been bereaved.

Greencore's surprise move to the US market after ten years of talking about its business in the United States, and almost two years after its acquisition of a high-level acquisition of Illinois-based Peacock Foods, it is surprised investors. It has also doubled Brexit's sewn UK market, which now accounts for 100 percent of its customer base.

The company's problems in the United States have soothed the ambitions and led to anger seeking

Coveney is not used to find this back leg, based on a fast-paced business period. He asked if, given Brexit's uncertainty, the company could see something outside of Britain, he said: "I do not think that we will look at something outside of Great Britain."

He also seems to have denied at least expanding business through acquisition in the near future. "Clearly, that we are not going to do it, is to get back to work because we have more money."

Undoubtedly, the company's problems in the United States, which triggered a profit warning in March, the first after ten years, and the drop in its stocks, slightly reduced ambitions and brought about a certain understanding of the soul.

However, Coveney said that Greencore had learned from Peacock's lessons on how to manage business more efficiently. It is possible that this experience will be used for successful UK business as it is now the best strategy.

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