Sandwich-maker Greencore expects profit ahead of market view on solid volumes

By Reuters News

Oct 13 (Reuters) - Irish convenience food producer Greencore GNC.L forecast annual profit ahead of market expectations on Tuesday, betting on strong volumes and integration of Bakkavor.

Here are some details on its outlook and performance:

  • Greencore, which supplies convenience food to all major supermarkets in Britain, said its fourth-quarter volumes grew at a faster pace than wider grocery market driven by chilled products like salads, dips, quiche and sandwiches

  • The firm forecast 2026 adjusted operating profit for continuing operations at £248 million ($327.98 million), ahead of analysts' average expectations of £238 million per a company-provided poll

  • Shares were up 4.5% at 274 pence in early trade

  • Its Q4 pro forma revenue was 4.5% to £1.04 billion

  • It said integration of rival Bakkavor, that it bought for £1.2 billion last year, was progressing well with a fast start on central re-organisation, procurement and distribution synergies

  • The firm said it had entered the new fiscal year with good volume momentum despite wider market uncertainties

($1 = 0.7561 pounds)

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