Why invest in Greencore?

Our Strategy

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Delivering Sustainable Growth

Our vision and our strategy define the direction of the Group. In light of the disposal of our entire US business in 2018, our strategy is reshaped and is now focused solely on the UK market.

Our strategic framework is aligned around four strategic priorities that we use to optimise Greencore’s growth potential.

multiple-11 Created with Sketch. ENHANCE OUR LEADERSHIP POSITION IN UK CONVENIENCE FOOD
  • We will continue to enhance our commercial collaboration with existing customers in existing channels to drive growth and maximise product returns
  • We will also seek to expand our product range and broaden our channel reach by utilising our investment in consumer insight and our additional capacity to develop new business opportunities with and for customers
  • We will also underpin this activity with disciplined strategic and tactical M&A activity
privacy-policy Created with Sketch. DEVELOP ENDURING AND VALUED CUSTOMER RELATIONSHIPS
  • We will continue to expand our capability set throughout the supply chain, underpinned by excellent customer service
  • We will engage openly with customers as they seek to grow in new formats and channels or to consolidate markets via acquisition
hierarchy-55 Created with Sketch. INVEST IN PEOPLE, INFRASTRUCTURE AND CAPABILITY
  • We will ensure that we have an aligned cost infrastructure to fit the scale and growth opportunities available to the business. We will also continue to drive operational improvement, focusing on all areas of the supply chain
  • We will continue to enhance our engagement and retention strategy and maintain pay structures and employment conditions to ensure labour availability
  • Infrastructure and capacity are important elements of our strategic growth plan and investment opportunities will be considered to maintain this capability in a disciplined manner
chart-bar-33 Created with Sketch. MAINTAIN A STRONG FINANCIAL AND ECONOMIC MODEL
  • We will ensure that we have an aligned cost infrastructure to fit the scale and growth opportunities available to the business. We will also continue to drive operational improvement, focusing on all areas of the supply chain
  • We will continue to enhance our engagement and retention strategy and maintain pay structures and employment conditions to ensure labour availability
  • Infrastructure and capacity are important elements of our strategic growth plan and investment opportunities will be considered to maintain this capability in a disciplined manner

DELIVERING ON OUR STRATEGY IN FY18

ENHANCE OUR LEADERSHIP POSITION IN UK CONVENIENCE FOOD

Our performance in the UK continues to benefit from growth in structurally attractive convenience food categories.
We have expanded our capabilities throughout the supply chain to deliver a set of configured skills to customers that extend significantly beyond product manufacturing. This provides a real point of difference for us in the marketplace. Examples of this include order management for customers, ‘earned recognition’ status with some customers so as to remove the requirement for internal auditing and management, and the development of our Direct to Store distribution capability.

DEVELOP ENDURING AND VALUED CUSTOMER RELATIONSHIPS

Strong relationships with our customers has been a critical element of Greencore’s success for many years. Relationships with customers are often and increasingly underpinned by long-term agreements with approximately 90% of our net sandwich sales pursuant to customer contracts with a duration of three years or more. We also continued to innovate at all levels with the business with c.35% of our products being new to market. We have also won many customer and industry awards in recognition of our track record and sustained performance with and for customers.

INVEST IN PEOPLE, INFRASTRUCTURE AND CAPABILITY

The business has a highly experienced leadership team with wide-ranging food sector knowledge. We have worked more tightly align our UK business into a single operational structure with a single leadership team. We underpinned this new structure and our commercial capability with a programme of operational effectiveness, targeting continuous improvement in two key areas – labour productivity and waste reduction across all of our sites.

MAINTAIN A STRONG FINANCIAL AND ECONOMIC MODEL

In pursuing our strategic priorities we maintain prudent, relatively low levels of financial risk. This provides us with a platform to generate sustainable cash flow that is used for effective capital allocation.

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