Greencore has reported a 33.6% revenue increase in its first half, driven by strong growth in its food-to-go and other convenience categories.
According to the convenience food firm’s latest trading update, the group’s pro-forma revenue grew by 48%, year on year, and was approximately 8% above equivalent pre-Covid levels in the first half of 2019.
Commenting on the results, Gary Kennedy, executive chair, said, “We are very pleased to have delivered H1 revenues that are back above pre-Covid levels, which is a great achievement against a backdrop of mobility restrictions, supply challenges, and emerging inflation."
New Appointment
On 13 May 2022, the group announced the appointment of Dalton Philips as chief executive officer and executive director.
Philips will succeed Patrick Coveney in his new role.
He will join the group and the board on 26 September 2022.
Outlook
The group noted that it is encouraged by the momentum in revenue and profit conversion in the first seven weeks of its second half, in what continues to be a challenging environment.
Though the inflationary environment remains volatile, the group expects to generate a full-year 2022 out-turn in line with current market expectations, it added.
© 2022 Checkout – your source for the latest Irish retail news. Article by Donna Ahern. For more A-brand news, click here. Click sign up to subscribe to Checkout.
