Irish sandwich giant Greencore has seen revenues at its Convenience Foods division rise 6.9% to £331.9 million, according to results posted on 28 June.
Greencore said that like-for-like sales across the division were 4.0% higher in the UK and 22.1% higher in the US, with the latter driven by “the roll-out of new lines with our principal customers”.
Its Ingredients and Property division, which includes the former Irish Sugar business and represents less than 5% of group activity, recorded revenues of £14.6 million, 4.4% higher on a constant currency basis.
Overall, the group reported a 6.2% increase in sales on a like-for-like basis to £346.5 million.
“The core UK grocery retail market remains challenging, with high levels of change,” Greencore said in a statement. “The combination of modest deflation in ingredients and packaging costs, together with price investment by grocery retailers, has resulted in value growth lagging behind volume in a number of our product markets.”
© 2015 – Checkout Magazine by Stephen Wynne-Jones
