Greencore 'Prepared To Airlift Ingredients' In The Event Of Hard Brexit
Convenience food manufacturer Greencore has reportedly said that it is prepared to airlift ingredients into the UK in the event of a hard Brexit.
Patrick Coveney, CEO reportedly outlined his transport decision of rocket and spinach for its UK sandwiches business at the groups annual general meetin, which took place in Dublin yesterday, reported the Irish Independent.
Coveney reportedly told shareholders that Greencore itself will need to make a decision in the next two to three weeks about triggering its own ‘no-deal’ planning.
Although the group believes the risks from Brexit are manageable in the medium-term, the near-term challenges associated with a ‘no withdrawal agreement’ are uncertain, the group said in its first quarter trading update, which it published yesterday morning.
Looking ahead the group said that it has has made an encouraging start to the year.
In the report the group also announced that its pro-forma revenue increased by 5.8% in the first financial quarter, 'driven in particular' by growth in food to go categories.
The group achieved revenue from continuing operations of £363.5 million (€417.5 million) within the 13 weeks to 28 December 2018.
© 2019 Checkout – your source for the latest Irish retail news. Article by Donna Ahern. Click subscribe to sign up for the Checkout print edition.