Last week, the stock markets reacted with relief to the news that Greenyard is reopening its Hungarian factory Baja. The factory was closed this summer after the company was connected to a Listeria outbreak.
The recall action in response to the discovery of the bacterium and the closing of the factory could be seen reflected in the financial situation of the Belgian company. A profit warning followed, and the costs were estimated to be 30 million euro net after insurance. This was negative for the share price of the company.
After the announced reopening last week, share prices increased again. On Wednesday 12 September, the share reported 7.23 euro. A day later, after the press release about the reopening was spread, share prices rose to 8.90 euro. After that initial increase, the share held on to a careful growth pattern. Trust in the Belgian conglomerate appears to be returning because of this.
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