Boost for Greencore after horsemeat tests come back negative
Irish food group Greencore’s shares galloped ahead today after it said that tests had found no other traces of horsemeat in products at its facilities.
Shares in Greencore tumbled by more than 12% in the second half of last week to 92.5p after small traces of horse DNA were identified in Asda’s own-brand beef bolognese sauce, which the grocer withdrew from its shelves, at its Bristol facility.
The supplier today said that all other tests on its products had been negative, adding that “none of its other 21 convenience foods sites have been affected”.
The scandal has snared many of the UK’s biggest retailers including Tesco and Aldi, although all have withdrawn products and stepped up rigorous testing. At the weekend, Malcolm Walker, the chief executive of frozen food chain Iceland, waded into the row by claiming that hospitals, schools and prisons should be “blamed” for the horsemeat scandal for “driving down” food quality to slash costs.
Greencore also said it was “implementing additional species screening procedures in its supply chain for beef-related ingredients going into all Greencore facilities”.
The group’s shares jumped by 6.5p, or 7%, to 99p today.
Numis said that the measures taken by Greencore indicate it is “getting to grips at speed with the horsemeat issue”.
Greencore had confirmed on Saturday that Asda’s Chosen By You Beef Bolognese Sauce contained 4.8% horse DNA.
- 1 This is what the one in ten British men who pay for sex need to know
- 2 Lee Evans announces retirement from comedy on The Jonathan Ross Show
- 3 These grandmas smoking weed for the first time are wonderful
- 4 Woman opens professional cuddling shop – gets 10,000 customers in first week
- 5 Angelina Jolie confuses everyone with 'ay up me duck' East Midland's greeting to Derby actor Jack O'Connell at awards show
Jeff Fletcher dead: Britpop guitarist is decapitated by lorry in horrific traffic accident
These grandmas smoking weed for the first time are wonderful
Jimmy Ruffin dead: Motown legend, who wrote 'What Becomes of the Brokenhearted', dies aged 78
New York snowstorm: Five dead and state of emergency declared as 'wall of snow' buries Buffalo
Woman opens professional cuddling shop – gets 10,000 customers in first week
'Muslims pre-date Columbus in discovering America,' says Turkish president Erdogan
France 'blocks' Russian sailors from boarding a warship
Former Tory PM Sir John Major says 'we would not have an NHS without migrants'
G20 summit: David Cameron warns Vladimir Putin that Russia's relationship with the West is at a 'fork in the road' over Ukraine
Myleene Klass: Ed Miliband 'strikes back' by comparing UK's need for Labour's mansion tax to Hear'Say track
Coalition government has 'shifted money from poorest to better-off' through welfare cuts and tax reductions, study claims
iJobs Money & Business
£20000 - £25000 per annum + OTE £35,000: SThree: We consistently strive to be ...
£50000 - £90000 per annum + benefits: Ampersand Consulting LLP: Markit EDM (CA...
$175 - $200 per annum, Benefits: full benefits: Carlton Senior Appointments: P...
Not specified: Carlton Senior Appointments: Senior MD Financial Advisor - San ...