This week: Tasty results expected from Greencore

Greencore makes 430 million sandwiches, 150 million ready meals and 42 million quiches every year, which is pretty good going for an Irish-founded company.

That is only going to increase, with the 2014 financial year shaping up to be another period of operational and financial progress for the company, according to Davy stockbrokers equity analyst Cathal Kenny.

Greencore’s interim management statement, which is due out tomorrow, is expected to strike a positive tone, as last year’s final quarter momentum carries forward into the first quarter of this year.

“We still think the shares can perform, but they may draw breath given the scale of the recent [last six months] price appreciation,” Mr Kenny said.

Davy’s 2014 adjusted EPS forecast is 15.2p, in line with consensus. Davy is forecasting growth of 20 per cent for Greencore’s US business this year and 4 per cent in the UK convenience food division.

On the subject of food, the challenge facing grocery brands and retailers in the post-downturn economic environment will the focus of the 2014 Checkout Conference, taking place in Dublin tomorrow.

Speakers will include Musgrave group chief executive Chris Martin, Keelings chief Caroline Keeling and Bruce Langlands, director of foods at Harrods.