Greencore's half-year profits up
28 May, 2008
Greencore Group has reported a "solid" overall performance in the half year to March 28.
The convenience food and ingredients group saw group sales up 2.5% to €648.7m (£514.3m) and operating profit up by the same percentage to €41.1m (32.6m).Its ingredients and property division recorded a "very strong performance" with operating profit (adjusted for currency fluctuations) up 61% to €13.2m (£10.5m). Its convenience division fared less well, with operating profit decreasing by 12.5% to €27.9m (£21.1m).Greencore said input price inflation within its sauces and pickles portfolio had reduced its margins. In a statement released today, Greencore said it is "well placed to deliver a good performance in the seasonally more significant second half" of its financial year.