Food-to-go sales ahead of the market at Greencore

27 November, 2012

Greencore has seen a strong full-year sales performance, with its food-to-go sector growing ahead of the market.

Forming part of its core convenience foods business, food-to-go sales were up 9.8% compared to +5.4%, achieved by the total market (estimated Nielsen 52 w/e 15 September 2012 and Greencore retail sales figures).

Growth was volume-led, with new business wins, including Marks & Spencer, and effective ‘meal deal’ promotions, said the firm.

In its full-year results for the 52- week period ended 28 September 2012, the group saw revenue increase 44.5% to £1.2bn. For continuing operations, it increased 10.4% to £1.1bn.

Operating profit stood at £70.7m.

Greencore reported that “extensive reshaping” of the group was now complete, while the integration of the Uniq business, which it acquired in September 2011, was “largely complete”.

Within its convenience foods arm, the firm said it saw strong sales and profit performance despite the challenging market conditions.

 





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