Greencore shares plummet due to Covid-related revenue slump

Convenience food group expects to bounce back ahead of the market after being hit hard by the collapse of retail sales.

Greencore CEO Patrick Coveney sees revenue recovering this year and hopes for a resumption of shareholder dividends next year.

Greencore shares plummeted 16% — wiping around €150m from the convenience food group’s market value — as it reported a slump in first-half revenues and a loss due to the continuing impact of the Covid restrictions.

However, chief executive Patrick Coveney said Greencore should see a recovery in annual revenues, to pre-Covid levels, this year and hopes to resume shareholder dividends during 2022.