Greencore Sees Operating Margin Down Following US Challenges
Published on May 22 2018 8:58 AM in Private Label tagged: Trending Posts / Greencore / Convenience Foods / Patrick Coveney / Paywall
Convenience foods giant Greencore has posted a 70-basis-point decline in adjusted operating margin in the first half of its financial year, following challenges in its US division.
Group revenue was up 22.6%, to £1.24 billion, however, with adjusted EBITDA rising by 9.4% and adjusted operating profit growing by 8.0%.
“The first half of FY18 has been challenging for Greencore and its shareholders,” said Patrick Coveney, Greencore's chief executive.
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