Greencore Feels Glow Of Warm Uk Weather

Greencore factory. Credit: Jevanto Productions/Shutterstock

UK group Greencore has raised its profit forecast for nan twelvemonth aft a “strong” 4th helped by nan upwind and caller contracts.

Greencore said its gross was “particularly strong” successful nan 13 weeks to 27 June, nan company’s 3rd quarter.

Revenue accrued 9.9% to £511.1m ($691.8m) supported by “favourable summertime weather” and “new business wins”.

As a result, Greencore has upgraded its adjusted operating profit forecast for nan afloat twelvemonth to £118m-121m ($159m-$163m) from a projection of £114-117m.

Greencore reported its measurement maturation was “encouraging crossed astir categories” successful nan 3rd quarter, particularly successful sandwiches, sushi and fresh meals.

Overall manufactured measurement grew 3.6% and underlying measurement maturation was 1.9%, up of nan wider market marketplace maturation of 0.7%, nan institution added.

The news comes arsenic Greencore is awaiting UK title clearance for its projected £1.2bn ($1.63bn) acquisition of chap UK convenience-food manufacturer Bakkavor Group.

Greencore CEO Dalton Philips said: “The Greencore squad has delivered different outstanding capacity successful Q3, pinch peculiarly beardown measurement momentum, aided by favourable summertime upwind and caller business wins.

“As we participate our seasonally important Q4, our attraction remains connected maintaining momentum successful our business.

He added: “We look guardant to completing nan value-creating acquisition of Bakkavor successful early 2026, taxable to regulatory approval, and will proceed to update connected advancement successful owed course.”