Greencore shares slide as analyst slashes earnings forecasts due to Covid impact

Greencore CEO Patrick Coveney

Shares in sandwiches, wraps and ready meals maker Greencore tumbled by nearly 5% after an analyst forecast double-digit percentage falls in its earnings and revenues this year on the back of the erosion of its core food-to-go market in the UK.

The Covid-19 lockdown restrictions and rise in home-working across Ireland and the UK have hit sales of on-the-go food products like salads and sandwiches – staples of Greencore’s product line.