Fresh-produce firm Greenyard has reported 1.2% year-on-year growth in like-for-like sales from continuing operations in the first nine months of its financial year.
Sales amounted to €3.2 billion in the first nine months of the financial year, while third-quarter like-for-like sales remained flat, at €1.05 million.
The company added that its performance in the first three quarters aligns with its expectations and long-term goal of reaching €5 billion in sales by March 2025.
Greenyard will discontinue the commercialisation of certain seasonal categories in the fresh segment, as it aims to focus on its strategy to improve transparency in its supply chain, to meet its sustainability and social-responsibility standards.
It also hopes to see the outcome of price hikes implemented to rein in inflation in the coming quarters.
Read More: Greenyard Aims To Become A ‘Plant-Based Powerhouse’
Divisional Performance
The company’s fresh division saw sales go up by 0.9% in the first nine months, compared to the same period last year.
The Long Fresh unit reported an increase in sales of 2.7% for the first nine months, to €540.6 million.
Third-quarter sales growth in the unit remained flat (0.5%) in the third quarter, compared to the same period of last year, amounting to €199.5 million.
The company attributed lower sales growth in the third quarter to the temporary impact of supply chain disruptions and the unavailability of labour.
Some of the company’s operations were impacted by COVID-19 quarantine measures in different countries, despite the implementation of safety and hygiene measures in its facilities across the globe.
© 2022 European Supermarket Magazine – your source for the latest fresh-produce news. Article by Dayeeta Das. Click subscribe to sign up to ESM: European Supermarket Magazine.
