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Greencore Sees Reported Revenue Up 10.6% In Preliminary Full Year Results

Convenience foods giant Greencore has posted a 10.6% increase in reported revenue to £1.48 billion in its preliminary unaudited results for the year ended 30 September 2016.

The company posted a 5.9% increase in like-for-like sales in the period.

Its core Convenience Foods business posted revenue of £1.44 billion, up 6.6% on a like-for-like basis. Group operating profit was up 11.2% to £102 million.

“This has been another year of strong performance for Greencore, and these results should be seen as a clear indication that our strategy of focusing on the UK and US Convenience Foods markets is continuing to work well, commented Patrick Coveney, Greencore chief executive.

"In the UK, we have delivered substantial like-for-like growth against the backdrop of a challenging retail market and an uncertain economic environment, and in the US we now have a business that is primed to deliver sustainable, profitable growth."

© 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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