Convenience food manufacturer Greencore has reported higher revenue and profits for the full year to the end of September.
The Dublin headquartered company, which is the biggest pre-packed sandwich maker in the UK, reported revenue of over £1.9 billion, up 10% on the previous year.
Group operating profit increased from £52.1m for the full financial year of 2022 to £66m.
The group's profit before tax increased from £39.8m last year to £45.2m, driven by higher group operating profit and lower exceptional items offset by higher finance costs.
Dalton Philips, Chief Executive Officer Greencore said they have stabilised the business amid a "challenging" market environment.
"The group delivered above-market volume growth, despite exiting a number of low margin contracts," he said.
"We also successfully mitigated and recovered the majority of our input cost inflation through effective operational and commercial initiatives.
"We are encouraged by our FY23 performance and the progress across the business," he added.
Mr Philips said the group continues to focus on improving profitability, and is investing in a number of initiatives focused on optimising its network and its IT infrastructure to allow it to grow.
"Our stronger balance sheet provides the financial flexibility to underpin this growth," he said.
Looking ahead, Mr Philips said they are pleased with the start to the financial year 2024, and remain confident in delivering full year results in the range of current market expectations.
