Greencore has reported a 'strong second half', according to its full year results ended 29 September 2023.
According to the convenience food manufacturer, the group delivered an adjusted operating profit of £76.3 million in 2023, which is a 5.7% increase on the previous year.
Commenting on the results, Dalton Philips, chief executive officer, said, “In a challenging market environment, we have stabilised the business, and made good strategic progress.
"The group delivered above-market volume growth, despite exiting a number of low margin contracts.
"We also successfully mitigated and recovered the majority of our input cost inflation through effective operational and commercial initiatives. We are encouraged by our full year 2023 performance and the progress across the business.
"The group continues to focus on improving profitability and is investing in a number of initiatives focused on both optimising our network and our IT infrastructure, to give us the platform for future growth," Philips added.
"Our stronger balance sheet provides the financial flexibility to underpin this growth. We are pleased with the start to the year and although it’s early days, the group remains confident in delivering full year 2024 within the range of current market expectations.”
Headquartered in Dublin, Greencore has announced that it has appointed Catherine Gubbins as chief financial officer and executive director.