Greencore: challenges ahead in British consumer food market

12 months to year ending September 26th, 2008

12 months to year ending September 26th, 2008

Revenue: €1.3bn (+3.2%)

Pre-tax profit: €41.7m (-29%)

Adjusted EPS: 24.1 cent (-7.7%)

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Sandwich and cake-maker Greencore is trading in a challenging British consumer food market, with a weak sterling dragging down operating profits by €8.1 million. But its balance sheet suggests the company is in good shape as it ramps up its fledgling US business.

Issues arising from the "disappointing" concealment of costs at its Campsie Mineral Water division in Scotland have been fully resolved, according to management.