Greencore, the convenience food group selling almost exclusively into the UK market, reported a more than doubling of profits to £72.2m (€83.5m) for the year to the end of September.

However, the annual report sounded a note of caution about the outlook for inflation and how it might hurt the company’s profits in the coming year. It noted that consumers had not yet absorbed the full impact of cost-of-living factors and the recessionary environment in the UK.