Saturday February 22, 2020

When steady firms hit turbulence

Ryanair and Greencore have sprung surprises on their shareholders recently that highlight operational, reputational and acquisition risks

15th October, 2017
2
Michael O’Leary of Ryanair: despite the company’s recent tribulations, the share price looks safe in the long term Pic: Getty

Playing the equity markets is always hazardous. But when an unexpected problem occurs in a business that has had a flawless reputation through several economic cycles, the immediate impact on the share price can be wholly disproportionate to the scale of the problem that has emerged.

Over the past month, one of Ireland’s best-managed companies, Ryanair, has hit unexpected operational challenges. Over the past 12 months, Greencore has too. These challenges have taken their toll...

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