Rebounding from first quarter lows, Irish convenience foods supplier Greencore Group Plc (LSE:GNC), delivered excellent results, ending the quarter as the third largest contributor to returns. In late May, the company announced half-year numbers, highlighting revenue growth from both its U.K. food-to-go grocery business and its U.S. Peacock acquisition. Investor sentiment turned positive and the stock rose +32% on speculation that the Peacock division may secure more U.S. outsourcing contracts.
From Bernard Horn (Trades, Portfolio)'s Polaris Global Value Fund 2nd quarter 2018 shareholder letter.
