Saturday 20 January 2018

Greencore announces 7pc hike in third quarter revenues to £326.4m

Greencore's Chief Executive Patrick Coveney
Greencore's Chief Executive Patrick Coveney
Ailish O'Hora

Ailish O'Hora

FOOD group Greencore has announced a 6.7pc increase in revenues for the third quarter, or thirteen weeks to June 27, to £326.4m (€413m) on a reported basis.

Its convenience foods division recorded revenues of £310.5m, 8.7pc on the previous year - it makes over 450 sandwiches per day.

The company said in an interim management statement that activity in many of the firm's UK divisions outperformed the food-to-go market.

In the US, constant currency revenue was 16.9pc higher than in the previous year, including the contribution from Lettieri's.

Greencore also concluded the agreement to sell off residential land in West Sussex with £16.5m expected in the current financial year.

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