Greencore, the Irish-headquartered food-to-go business, has reported third-quarter revenues of £636.5m (€714m) for the 13 weeks to the end of June, which reflects a 12% increase on a like-for-like basis.
Sales in the group’s UK and Ireland division stood at just under £371m (€417m) for the period, which is a increase of 15% on a like-for-like basis.
Greencore said this increase was driven by its food-to-go business, which benefitted from winning larger supply contracts with several of the group’s largest customers. Food-to-go sales account for over 60% of UK and Ireland divisional revenue.
Greencore said it also acquired a sandwich-manufacturing facility near Heathrow at the end of June, which will add to manufacturing capacity.
In the US, Greencore said the integration of the Peacock Foods business remains on track with a pipeline of new sales contracts being explored. Greencore’s US division reported revenues of £269m (€301m) for the third quarter, a 7% increase on a like-for-like basis.
Sales from the business formally known as Peacock Foods increased almost 5% in the quarter. More importantly from Greencore’s perspective is the 8% increase in sales volumes from the Peacock business, which was driven by the capacity expansion of its meal kit manufacturing facility in Illinois.
In its outlook for the remainder of the year, Greencore said the fourth quarter of the financial year is the most seasonally important period for both its US and UK businesses. Despite challenging trading conditions in certain parts of its UK business, Greencore expects its performance for its 2017 financial year to be in line with market expectations.