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Greencore Posts Group Revenue Increase Of 8.1% In H1

Convenience-foods group Greencore has posted an 8.1-per-cent increase in group revenue (+7.5% at constant currency) of £691.6 million in the first half of its financial year.

Group operating profit was up 8.5 per cent in the period, while the operating margin of 6.3 per cent remained unchanged year on year.

Its Convenience Foods division, which accounts for the majority of its business, saw revenue rise 8.7 per cent, to £667.9 million.

The Dublin-headquartered group said that "continued strong momentum" across its UK and US food-to-go activity resulted in "like-for-like revenue growth of 12.7 per cent, well ahead of market performance".

“Greencore has performed strongly in the first half of the year," said its chief executive, Patrick Coveney. "Our strategy of focusing on the UK and US food-to-go markets is working well, and we are continuing to invest in capacity and capability initiatives to support the substantial future-growth pipeline. We are confident of further progress in the months and years ahead.”

© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. To subscribe to ESM: The European Supermarket Magazine, click here.

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