Sandwich giant’s shares plummet

SHARES in Irish sandwich-maker Greencore plummeted yesterday after it warned that problems at its US division would dent profits.

The company blamed the weak performance of its ‘under-utilised’ US factories as well as the sterling/dollar exchange rate as reasons for why its profits would be less than expected.

Shares in the company plunged 30% on the FTSE on the back of the warning. Greencore acquired US-based Peacock Foods in 2016. Greencore anticipates a €3.4million once-off cost for a shake-up of its US network.