Greencore sees 6.7% rise in revenue during Q3

Tuesday 29 July 2014 10.43
Greencore's convenience food division was boosted by a growth in small-format shops in Britain
Greencore's convenience food division was boosted by a growth in small-format shops in Britain

Greencore has reported a 6.7% rise in revenue during its third quarter, with the food services company earning £326.4m in the 13 weeks to 27 June.

The British-listed company said revenue at its convenience food division was 8.7% higher at £310.5m, driven partially by a growth in small-format shops.

Its US business saw a 16.9% rise on a constant currency basis, following the sale of some non-core assets and the extension of one of its facilities.

Meanwhile the firm’s ingredients and property division saw revenues fall by 20.9% to £15.9m, though Greencore noted that this area now represents just 5% of its total business.

During the quarter, the company also disposed of its Ministry of Cake dessert business and has agreed the sale of land in West Sussex.