Greencore pleased with year performance

Food group Greencore said it is pleased with its performance for the financial year to the end of September.

Food group Greencore said it is pleased with its performance for the financial year to the end of September.

Net debt at the financial year end is expected to be between €565 million and €575 million, down from €874 million at March 2001 and earning per share for the financial year is expected to be between 29 cent and 30 cent.

Referring to trading it said the chilled and frozen division continues to trade strongly.

Sales in the period from April to August increased by 8 per cent year-on-year, despite unseasonably poor weather this summer.

READ MORE

There was particularly strong performance in the sandwiches and chilled ready meals categories, both of which experienced growth of 16 per cent.

The ingredients division has been trading in line with expectations, having taken into account the reduction in profits at Irish Sugar, as a result of the previously reported issues at the time of the production campaign.

AFP