Convenience foods giant Greencore has seen its H1 pre-tax profit fall from £12.1 million to £8.03 million, according to figures released this morning.
However, the Ireland-based group posted operating profits totaling £37.2 million for the 26-week-period to 28 March, with group revenue up 8% on a like-for-like basis, to £619.8 million.
And excluding exceptional items, pre-tax profit improved to £24.97 million from £20.34 million last year.
"The business delivered a strong first half performance, driving 18.6% earnings per share growth," said chief executive Patrick Coveney.
"Our strategy of focusing on the food to go market is working well in both the UK and the US.
"Over the past six months we have stepped up our strategic investments in Minneapolis, Jacksonville, Rhode Island and Northampton to support confirmed new business with several large customers."
The company posted earnings per share of 2.8 pence, compared to 5.1 pence per share a year ago.
Adjusted earnings per share were 7.0 pence, 18.6% ahead of the previous year.
© 2014 - European Supermarket Magazine by Enda Dowling
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