Packed sandwich giant Greencore Group hailed “a year of real achievement” after operating profits rose by almost 8% on a constant currency basis to €72.9m.
Like-for-like sales in the company’s core convenience arm rose by 2.2% over the previous year, with profitability for the division up 14%. However, total sales for the group – whose ingredients division saw like-for-like sales dip by 8% – fell slightly to €1.104bn.
The news comes after the group last week announced the sale of its loss-making water business to Highland Spring in a £17.5m deal.
"This has been a year of real achievement in the face of considerable headwinds,” said chief executive Patrick Coveney.
“We have driven significant performance improvement in our core convenience foods business… re-financed our group, reshaped our business portfolio and embedded a new leadership team at all levels.”
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Highland Spring snaps up Greencore Water (20 November 2009)
Sarnie revival is sign of economic recovery (19 September 2009)
Convenience food sales up at Greencore (13 August 2009)
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