Monday 23 October 2017

Revenues at Greencore up despite challenges in overall grocery sector

Greencore chief executive Patrick Coveney
Greencore chief executive Patrick Coveney
Ailish O'Hora

Ailish O'Hora

Food group Greencore has recorded revenue of £320.5m for the 13 weeks to December 27, up 7.2pc versus the previous year.

The company, headed up by Patrick Coveney, added that on a like for like basis, excluding the sale of its desserts business which was sold to Muller group,  growth was 9pc.

The convenience foods division recorded sales of of £305.6m, 6.9pc higher than in the prior year on a reported basis.

In the UK, like for like revenue was 7.2pc higher than in the prior year.

"During the period, we invested in significant relaunch activity with several key customers, and we continue to develop a pipeline of future growth opportunities for FY15," the company said in a statement today.

In the US, constant currency revenue was 26.2pc higher than the prior year reflecting the commencement of the Starbucks supply agreement. We continue to develop future

The company also said it was on target to meet its revenue expectations.

Online Editors

Also in Business