This week Greencore, the largest sandwich supplier to the UK market, reported results for the first six months of its financial year.

Unsurprisingly, the number clearly showed the effects of inflation, with revenue up by over 20% to £925.8 million (€1.07 billion) when compared to the same period in 2022.

Adjusted operating profit for the six months was £11.8 million (€13.6 million), a 30% drop from a year earlier, while the group made a pretax loss of £6.2 million (€7.17 million) which it blamed on the lower operating profit and increased finance costs.


Greencore booked £7.7 million (€8.9 million) in reorganisation costs in the first half of its financial year and, due to the acceleration of the group’s headcount reduction programme, cut 250 salaried roles by the end of March.

Overall, Greencore said the decrease in adjusted operating profit was driven by increasing costs year on year as significant inflation has been experienced, which was not fully recovered in the period.

The company announced a further £10 million (€11.6 million) in share buybacks between now and the end of September this year.