SUMMARYYesterday's results, which were reported in sterling for the first time, were in line with analysts' expectations. The results exclude Uniq, the British sandwich-maker acquired by Greencore earlier this year.
Revenue for the year ended September 30th, 2011 increased by 8.7 per cent or 4.3 per cent on a like-for-like basis. Operating profit was in line with 2010 though Greencore’s core business, convenience foods, saw a 5.3 per cent growth in operating profits.
The earnings per share figure in particular was ahead of some analysts’ expectations at 13.9 pence, compared to 11.5 pence in 2010. Greencore said the business had made a good start to 2012, with “revenue momentum” in all business categories. “The Uniq businesses are trading in line with our expectations and the integration is progressing to plan,” the company said.
Revenue: £804.2m (+4.3% lfl)
Operating Profit: £51.5m (-)
Adjusted EPS: 13.9p (+ 20.9%)
Final dividend: 2.4 cent per share
Net Debt: £139.8 million
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