22nd Jul 2025 09:07
(Alliance News) - Greencore Group PLC on Tuesday raised full-year guidance after reporting that the good weather and new business wins boosted sales in the financial third quarter.
In response, shares in the Dublin-based convenience foods maker jumped 10% at 265.56 pence each in London on Tuesday morning. They earlier touched a 52-week high of 268.00p.
Greencore now anticipates financial 2025 adjusted operating profit will be in a range of GBP118 million to GBP121 million, ahead of previous guidance of GBP114 million to GBP117 million.
At the top-end of guidance this would be 21% ahead of GBP97.5 million posted in the 52 weeks to September 27, 2024.
Chief Executive Dalton Philips said it was an "outstanding performance".
Revenue momentum continued from the half year and was particularly strong in the third quarter, Greencore said, with revenue increasing 9.9% to GBP511.1 million in the 13 weeks to June 27, supported by favourable summer weather and new business wins.
Sales were driven by an increase in total volumes and mix of 6.8% and pricing of 3.1%.
Volume growth was encouraging across most categories, particularly in sandwiches, sushi and ready meals, Greencore said.
As a result, the firm raised guidance despite noting caution around the "uncertain UK economic environment, alongside continued inflationary pressures, particularly in protein and labour."
"As we enter our seasonally-important fourth quarter, our focus remains on maintaining momentum in our business," CEO Philips added.
The acquisition of Bakkavor Group PLC is expected to complete in early 2026, subject to regulatory approval.
By Jeremy Cutler, Alliance News reporter
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