Greencore first-half results feed recovery hopes

Greencore first-half results feed recovery hopes
Patrick Coveney, chief executive of Greencore

Shares in the convenience food firm had tumbled after a surprise profit warning in March, but a positive outlook for the second half of the year appears to have reassured investors

Shares in Dublin-based convenience foods firm Greencore have gained in London after the company released half-year results in which it reiterated its earnings guidance for the financial year and signalled an improved second half.

The company lowered its target for earnings per share to 14.5p-17.5p in a surprise profit warning in March which sent its shares tumbling.

They have recently bounced back, however, with some hedge funds reducing their bets against the company....

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