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Greencore eyes 20% hike in operating profits

Trading statement - Greencore performance in line with expectations
Trading statement - Greencore performance in line with expectations

Greencore says its trading performance during the last few months was fully in line with expectations.

In a trading statement today, the group said it expects to report adjusted earnings per share of 16.5 cent for the year ended September 24, 2010.

It added that sales from continuing businesses in convenience foods are set to be about 8% higher than the same time last year, while group operating profit on continuing businesses is expected to be about 20% ahead of last year's figure.

Greencore said that it expects to deliver a strong performance in its ongoing business next year. This is based on its current rate of business and the expected reduction in its interest bill after a full year benefit from its disposals during the year.