Greencore sees rise in revenues

THE impact of acquisitions and of businesses sold has helped Greencore boost its revenue.

The Greencore Grocery division  – a manufacturer of private label and branded foods –  operates from three Yorkshire sites in Selby, Leeds and Hull, where its Greencore Cakes and Desserts factory is based.

In its interim management statement for the period to July 31 2013, Greencore said its Convenience Foods division, of which Greencore Grocery falls into, recorded revenue of £285.7m, 2.8% higher than the prior year.

The group said: “The revenue growth reflects both the contribution from acquisitions but also the impact of business exited, notably in the former Uniq chilled desserts activities.

“Market conditions in the UK remained tough during Q3 with continued poor weather affecting the business for much of the period. 

“Whilst the overall chilled ready meals market is gradually recovering from the impact of the horsemeat scandal earlier in the year, Italian ready meals remained in year-on-year decline affecting the Prepared Meals division. We have continued to focus on delivery of operating efficiencies and maintained tight cost controls across the UK business to mitigate these impacts.”

Overall, Greencore, which is headquartered in Dublin, recorded revenue of £878.7m, 1.5% ahead of the prior year.