Greencore initiatives drive cakes
28 November, 2008
Food producer Greencore has revealed that its cakes and desserts business has performed well for the full year ended 26 September 2008.
Sales have increased by 8.3% in its Convenience Foods division (excluding water) and average category volume growth in its UK convenience business, which includes cakes and sandwiches, stood at 2%. According to the firm's preliminary results, cakes and desserts had delivered sales growth "significantly ahead of average convenience food", with initiatives such as 'Design your Cake' and 'Terry's Chocolate Orange' cake, cited as successes.Greencore's overall sales grew 3.2% to E1.31 billion (£1.1bn), but operating profit dropped 4.5% to E77.3m (£65.3m).