Greencore Expects 20% Jump in Annual Profit
Greencore, which is one of the UK’s leading convenience food manufacturers and also has operations in the US, expects group operating profit, excluding exceptional items and amortisation, on continuing businesses for the twelve months ended September 24 2010 to be about 20% ahead of the previous year. Sales from continuing businesses in convenience foods are expected to be about 8% higher than in 2009.
Greencore will release its preliminary results for the 2010 financial year on Tuesday 23rd November.
Looking ahead, based on the current run rate of the business and an expected significant reduction in the group’s interest bill reflecting a full year benefit associated with the FY10 disposals, Greencore is projecting a strong performance in its ongoing business in FY11.
