Volume growth and product innovation helped food-to-go manufacturer Greencore deliver a strong Q3 performance and upgrade its full year profit guidance.
In a trading update for the 13 weeks ended 27 June 2025, the Dublin-headquartered firm reported revenue momentum had continued from the half year to generate £511.1m in the third quarter, marking a 9.9% year-on-year increase.
Sales growth was driven by a 6.8% rise in volumes, supported by favourable weather and new business wins, and the positive impact of inflation recovery of 3.1%.
Overall manufactured volume grew 3.6% in Q3 and underlying volume growth was 1.9% (excluding new business wins), which Greencore noted was ahead of the wider grocery market growth of 0.7% [Kantar data for 12 weeks to 15 June 2025].
The company said it had continued to invest in product innovation during the quarter, launching 168 new lines in time for the peak summer season. Among these were the Japanese sando-inspired Red Diamond Strawberry & Creme Sandwich for M&S – which went viral whilst splitting opinion – as well as a range of poke bowls.
Greencore also highlighted its focus on standardisation, waste reduction, and automation rollout, along with its ‘Making Business Easier’ investment plan to transform group-wide technology, data and processes.
“As we enter our seasonally-important Q4, our focus remains on maintaining momentum in our business,” commented Greencore CEO Dalton Philips. “While we are mindful of an uncertain economic backdrop and ongoing inflationary pressures, we now expect to deliver a full year Adjusted Operating Profit of £118-121m, ahead of previous guidance.”
Philips added that the company was looking forward to completing the value-creating acquisition of fellow food-to-go giant Bakkavor in early 2026, subject to regulatory approval. Earlier this month, the Competition and Markets Authority launched an investigation into the proposed £1.2bn deal, with an information gathering process via comments from interested parties ending today (22 July).
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