Greencore says it is on track to modestly exceed its previous guidance for earnings for the full year of 2010 of about 16 cent per share.
In a trading update, the company said that its convenience foods division has had a 'buoyant' summer to date with the positive half year sales trend improving in the four-month period to July 23.
Sales from continuing operations at the division were 7% or €281.2m ahead of the same time last year, the company added.
Greencore said its key food to go and prepared meals categories continue to perform well. It said that the UK consumer trend of increased 'at home' food consumption continues to support demand for its overall offering.
It said it continues to record market share gains across its portfolio, especially in the UK chilled ready meals market, with its market share there growing by a third to 10.4% in the year to July.
In the US, Greencore said it is seeing strong sales growth of 20%, but this is below the growth rate of 27% seen in the first half of its financial year. It added that salad sales have been slower than expected.
Greencore said that trading in the ingredients and property division in the four months under review was in line with expectations. Trading was down on last year due mainly to reduced property proceeds, with this division now representing less than 10% of group sales and operating profits.
'Trading over the summer months to date has been very positive and the group remains on track to record strong operating profit growth in 2010 in convenience foods,' today's statement said.
Shares in Greencore rose by 2% to close at €1.30 in Dublin.
