Convenience food sales up 7% for Greencore
FOOD group Greencore reported a “buoyant summer” for its convenience foods divisions this morning as sales rose 7% on the same period last year.
Greencore, which has four convenience food operations in Yorkshire, recorded sales of £231m for the division for the four months to July, following up a first half performance which saw sales in the division up 6.1%.
The company said its performance was helped by UK consumers eating more meals at home and the growth in smaller convenience stores among food retailers. In the year to 11 July the company saw its share of the UK chilled ready meals market rise by a third to 10.4%.
In a trading update the company forecast it would see an operating margin on continuing operations in the convenience food division for its full year performance marginally above the 6.5% recorded for the first half of the year.
The statement said: “Trading over the summer months to date has been very positive and the group remains on track to record strong operating profit growth in FY10 in convenience foods.”
Greencore employs around 3,000 people at sites in Sheffield, Hull, Selby and Leeds as well as offices in Chesterfield.
The company’s US business recorded constant currency sales growth of 20% over the period while trading in its ingredients and property division was down on last year although “in line with expectations”.
