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Greencore Shows 'Significant Growth In Challenging Year' In FY17 Results

Greencore has shown significant growth and progress in a challenging year, according to the annual financial results, that were published today (28 November) for the year ending in September 2017.

Group pro forma revenue growth was strong at 9.4% – driven in large part by 18.8% growth in UK Food to Go.

Commenting on the results, Patrick Coveney, CEO said: “Greencore has been substantially transformed this year and the decisions made and work undertaken in FY17 have set us up very well for further progress."

Peacock Foods

Coveney said, the acquisition of Peacock Foods and the significant UK network investments help the group to support large new business wins, which has  reshaped its business.

In the statement the group noted that this year, it also attributes the acquisition of Peacock Foods in the US, the Group’s largest ever acquisition, funded in part through a rights issue, was also a highlight from 2017.

"We are pleased with the progress of the US integration to-date and with the development of our US commercial pipeline, as illustrated by a recently extended long term, strategic partnership with one of our largest and most important customers." Conveney added.

© 2017 - Checkout Magazine by Donna Ahern

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