Greencore reported an eight per cent increase in convenience food sales but warned that business conditions in its key UK market remained challenging.
The food and sugar producer's interim profits show that group operating profit barely changed as profit growth of 24 per cent in convenience foods was offset by a slump in agri-business.
But Greencore gave a downbeat outlook for its prospects in Britain where intense competition and sagging consumer demand are creating trying condition for the food sector.
Despite the gloomy market outlook Greencore said it is confident that its leading market positions will see it continue to make good returns from its businesses.