1st Apr 2025 08:32
(Alliance News) - Greencore Group PLC on Tuesday said it expects full-year profit will be ahead of current market expectations after strong trading in the second quarter.
In response, shares in the Dublin-based manufacturer of convenience foods rose 3.3% to 174.80 pence each in London morning.
Greencore said strong revenue and volume momentum continued into the second quarter, supported by continued growth with customers and new business won during financial 2024.
Profit conversion during the second quarter was ahead of management's expectations and underpinned by on-going operational and commercial initiatives and a continued focus on cost control.
As a result, Greencore anticipates adjusted operating profit for the full year ending September 26 will be ahead of current market expectations and in the range of GBP112 million to GBP115 million.
RBC Capital Markets noted the prior range was GBP102.6 million to GBP107 million with a consensus average of around GBP105 million.
Greencore will publish results for the half year on May 27.
By Jeremy Cutler, Alliance News reporter
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