The prepared foods manufacturer has reported a 4.2% increase in sales for the first nine months of its financial year, driven by another strong performance from its US food-to-go business
Greencore has reported revenue growth of 4.2% to £986.3m (€1.4bn) for the nine months to the end June, compared with the period last year. For the quarter, revenue increased by 6.2% to £346.5m (€488.5m).
Despite pressure on margins from the challenged UK grocery retail market, the group expects to deliver earnings growth for its full financial year. In its core UK market, sales were up by 4%, driven by its food-to-go business. The US, which now accounts for 20% of revenues, continues to be Greencore’s fastest-growing market, with like-for-like food-to-go sales 22% ahead.
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Title: US drives Greencore revenue growth
The prepared foods manufacturer has reported a 4.2% increase in sales for the first nine months of its financial year, driven by another strong performance from its US food-to-go business
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Greencore has reported revenue growth of 4.2% to £986.3m (€1.4bn) for the nine months to the end June, compared with the period last year. For the quarter, revenue increased by 6.2% to £346.5m (€488.5m).
Despite pressure on margins from the challenged UK grocery retail market, the group expects to deliver earnings growth for its full financial year. In its core UK market, sales were up by 4%, driven by its food-to-go business. The US, which now accounts for 20% of revenues, continues to be Greencore’s fastest-growing market, with like-for-like food-to-go sales 22% ahead.
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