Food to go drives Greencore growth

Greencore set for further growth in food to go sector
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The UK’s leading sandwich and celebration cake company, Greencore, has outperformed the food to go market, with like-for-like revenue growth of 15.3% in the past year.

In its full year results up to 26 September, it announced that group revenue was also up 7.4% on a like-for-like basis.

This comes as the business began a significant £30,000 investment into its Northampton production facility in May this year. The sandwich firm said the extension of the production unit was nearly complete, and construction of a whole new facility on adjacent land would begin shortly.

It said it hoped this would enable new business and allow its commitment to growth initiatives with a customer.

Its grocery sector, which operates from four facilities and represents approximately 20% of group revenue, has also performed well.

Its celebration cakes category grew by 5.4%, but the chilled desserts category declined by 1.0%. 

Commenting on the results, Patrick Coveney, chief executive, said: “This has been a year of strong strategic, operational and financial progress for Greencore. The group’s focus on extending our leadership in the food-to-go market is yielding great results, with like for like revenue growth in that area of the business exceeding 15%. 

“We have strong market positions, a clear strategy, and are continuing to lay the foundations for future growth through a significant capacity and capability investment programme in both the UK and the US. We enter the new financial year with good momentum and remain well positioned to deliver further progress in FY15 and beyond.” 

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