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Greencore Posts A 1.6% Increase In Group Revenue

Published on May 19 2020 4:31 PM

Greencore Posts A 1.6% Increase In Group Revenue

Greencore has posted a 1.6% increase in group revenue in the first half of its financial year, to €798 million (£712.7 million), its latest financial results show.

The convenience foods operator's pro forma revenue growth for the period to 27 March was 0.1%, while adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) was up by 2.1%.

COVID-19 Response

In this trading update, it said that it had undertaken a 'comprehensive and rapid response' to the COVID-19 epidemic, by 'keeping its people safe, feeding the UK, and protecting our business'.

It added that the focus is now on rebuilding Greencore volumes as social restriction measures are eased.

"We have implemented a broad range of actions to mitigate the impact of COVID-19 on our business and to position us for growth as the pandemic eases," commented Patrick Coveney, Greencore chief executive.

"More than ever before, our deep customer relationships, leadership positions in key food categories, well invested network, flexible model, and outstanding people are key strengths that ensure we trade our way resiliently through this uncertain period.”

Looking Ahead 

As announced on 30 March 2020, the Group will not be proceeding with an interim FY20 dividend payment and today announces that it will not be proceeding with either a final full year 220 or an interim full year 2021 dividend payment.

Appointment of Emma Hynes as Executive Director and Chief Financial Officer with effect from 19 May 2020

 

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