26th Jan 2016 07:47
LONDON (Alliance News) - Greencore Group PLC on Tuesday said it is confident of meeting market expectations after a "good start" to its financial year.
In an update for the 13 weeks to December 25, which is the convenience food company's first quarter, Greencore said it recorded GBP356.0 million of revenue in that period, up 7.2% on the prior year on a reported basis and of 6.8% at constant currency.
"The business has had a good start to the year and our major investments in capacity and capability enhancement are proceeding to plan. We remain confident in our ability to deliver performance in line with market expectations," Greencore said.
Its convenience foods division generated GBP345.1 million of revenue, up 7.7% on the prior year period on a reported basis and up 7.0% at constant currency.
The ingredients and property division recorded revenue of GBP10.9 million in the quarter, 6.0% lower on a reported basis and 3.4% higher at constant currency.
By Samuel Agini; [email protected]; @samuelagini
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