Get the app today! Download iPhone App Download Android App

Greencore Set To Consolidate Around Its Key Strengths: Analysis

Published on Jan 30 2018 3:44 PM in Private Label tagged: Featured Post / Greencore / Patrick Coveney / Paywall

Greencore Set To Consolidate Around Its Key Strengths: Analysis

While the year 2017 saw its fair share of ups and downs for convenience foods group Greencore, 2018 looks to be starting off on the front foot.

Earlier today, Greencore announced a 7.2% increase in pro forma revenue in the first quarter of its financial year, with sales of £640.5 million for the period. Driving this growth was its UK & Ireland Convenience Foods business, which saw 8.7% growth, while its burgeoning US Convenience Foods operation posted 5.1% growth.

In what has been a busy week for chief executive Patrick Coveney and his team, the business also announced that it was exiting the cakes and desserts business, with the sale of its remaining operations to UK-based Bright Blue Foods, a disposal that is expected to have a 'neutral' impact on its group adjusted earnings.

please subscribe or sign in to continue reading

image description

Try European Supermarket Magazine PREMIUM – 30 Day FREE Trial.

A trial subscription gives unrestricted access to all premium site content, app content, weekly email content and European Supermarket Magazine digital edition for a full 30 days. Try it now!

Share on Facebook Share on Twitter Share on Google+ Share on LinkedIn Share on Tumblr Share via Email