Greencore’s Trading Helped by NPD
26 Jan 2016 --- Greencore, the supermarket supplier, has reported a 7.2 per cent year-on-year lift in revenues in the first quarter, helped by the success of new product launches.
Revenues at Greencore rose to $401m Euros in the 13 weeks to December 25 despite the group flagging up “a challenging UK grocery market”.
Greencore’s ingredients and property division, reported sales of $15.6m which was down 6 per cent on the year.
The group has launched new products in the US, where it is building a nationwide US food-to-go business of “real scale”.
Greencore’s star performing offerings of late have been its food-to-go offering, which is made up of sandwiches, sushi and salad.
Revenues in the UK were up by 7.9 per cent, helped by a strong performance of its core chilled categories.
“Our strong growth was driven by the annulisation of prior year business wins together with the impact of new product launches,” the company said, in its trading update.
Greencore also noted that its new production facility in Northampton is nearing completion.
