Fresh produce firm Greenyard has reported a double-digit sales growth of 11.4% in the first quarter of its financial year, to €1.15 billion.
The company attributed this growth to a ‘faster than expected’ organic growth in long-term commercial relationships as well as the impact of COVID-19 on volumes in its Fresh segment.
The Belgium-based firm added that the Fresh segment generated more than €100 million extra in sales due to an increase in volumes.
Sales in the Fresh segment increased by 12.9% to €959 million in the quarter, from €849.4 million in the same period last year.
The Long Fresh division saw a 4.6% year-on-year growth in sales to €190.3 million, despite the loss of volumes in the foodservice and industry customer segment due to the pandemic.
© 2020 European Supermarket Magazine – your source for the latest retail news. Article by Dayeeta Das. Click subscribe to sign up to ESM: The European Supermarket Magazine.