Greencore revenues up 50%

Food company Greencore has reported half-yearly results with profits remaining strong despite challenging market conditions.

The company's revenues increased by 49.9 per cent to £567.7 million for the six months to the end of March.

The company attributed the rise in revenues partly to the acquisition of Uniq last year, an acquisition which has reshaped the Group and leaving it on track to deliver all of the targeted integration benefits.

The Greencore board announced an interim dividend of 1.75 pence per share

Greencore Group chief financial officer Alan Williams today said he was comfortable with analysts' full- year earnings estimates.

He said though consumers in the UK are struggling, Greencore's food categories are still growing, adding that the company is only "reluctantly" passing on price increases to recover cost increases.

Additional reporting: Bloomberg