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.

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