Wednesday 17 January 2018

Greencore: Annual revenues up 8.7pc and pre-tax profits of £35m reported

Greencore chairman Ned Sullivan talks with CEO Patrick Coveney
Greencore chairman Ned Sullivan talks with CEO Patrick Coveney

FOOD group Greencore has reported pre-tax profits of £35.47m sterling for the year to the end of September.

This figure is significantly up from the £21.5m reported at the same time last year. Group revenues for the year rose by 8.7pc to £804.2m.

The company said its group operating profits of £51.5m were in line with the previous year and it is confident of driving further growth this year despite the challenges it faces.

It is proposing a final dividend of 2.4 cent per share.

Greencore also announced it has successfully completed the £113m deal to buy Uniq in September. The deal and the acquisition of On a Roll Sales will strengthen its position in chilled convenience foods in the US and UK, the company said..

It has changed its reporting currency from euro to sterling to align the group's external financial reporting with the group's profile.

Greencore chief executive Patrick Coveney said that 2011 has seen the company complete its transformation into a ''focused and growing convenience food business'' while the underlying business continues to trade well.

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