Greencore reports positive Q1 revenue growth

Greencore, the convenience food manufacturer, has reported revenue growth of 7.2% to £356m for the 13 weeks to 25 December.

In a Q1 trading statement, the company declared the convenience food division grew 7.9% in the UK and 6.5% in the USA. This offset a 6% or £0.7m drop in revenues for the ingredients and property division, which currently represents less than 5% of the total business.

Greencore said growth was driven by annualisation of prior year business wins and new product launches. It added that construction of a new production facility on the company’s Northampton campus was nearing completion and on track to commence commissioning in the spring.

The company said: “The business has had a good start to the year and our major investments in capacity and capability enhancement are proceeding to plan. We remain confident in our ability to deliver performance in line with market expectations.”

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