Convenience food group Greencore has reported a 35% increase in revenue in the third quarter of this year to £486.2m, driven by strong growth in both 'food to go' and other convenience categories.
Revenue in the 'food to go' categories was up 41% to £333.4, while revenue in the other categories was up 23.5% to £152.9.
Despite the inflationary challenges impacting the broader food industry, Greencore said there has been 'limited' demand impact to date in the group's categories.
The company said it will continue to monitor the impact of increased prices at a consumer level closely.
It said profit momentum improved during the three month period, driven by volume growth and better conversion due to enhanced productivity.
"I am encouraged by the progress we have made during Q3 against the backdrop of inflationary pressures for the industry," said Gary Kennedy, Executive Chair of Greencore.
"Revenue and profit conversion through the period has been encouraging and we are confident in our ability to continue to manage the various industry challenges and end the year strongly.
"Our leading market positions, close customer relationships and intense focus on efficiencies mean that we look to the future with optimism, and we expect to deliver a strong year on year improvement in profitability, cash flow and returns for FY22," he added.
Greencore is due to report its full year results for the year ending 30 September 2022 on 29 November 2022.
It said it expects to generate a full year Adjusted Operating Profit outturn of between £72m and £77m.
