Greencore: announces Q1-2024 trading update

Dublin / IE. (gg) Greencore Group PLC, a leading manufacturer of convenience food in the UK, issues its results for Q1-2024, that covers in Dublin the 13 week period ended 29 December 2023.

Q1-2024 Trading
Q1-2024 Revenue
Q1-2024 Revenue Growth versus FY-2023
in million GBP Reported Pro Forma LFL
Group 441.3 -4.7% -0.4% +5.8%
Food to go categories 293.7 +0.9% +0.9% +5.8%
Other convenience categories 147.6 -14.2% -3.0% +5.9%

Chief Executive’s Commentary

Chief Executive Officer Dalton Philips: «I am extremely encouraged by the strong start to the year for our business. Our manufactured like for like volume growth of 0.5 percent in the quarter, continued to outperform the market in the key categories in which we operate. This performance has once again been supported by our outstanding operational service levels to ensure availability of products to our customers. Our focus as a team is to provide fresh and healthy foods to our customers and consumers each and every day. Our progress as a business has been delivered through continued effective operational and commercial initiatives, as detailed in November, this has supported improved profit conversion and a strong profit out-turn in the quarter. We are committed to continuing to drive profitability through commercial discipline and are investing in several initiatives to develop a robust platform for future growth. While we remain mindful of the seasonally important second half of the year, we are confident that the Group will deliver a full year out-turn in line with current market expectations.»

For additional information please read the Company’s PDF file below (187 KB):