Greencore has once again adjusted its profit expectations upward following a robust fourth quarter. Higher-than-expected sales have driven this positive outlook.
- In the final quarter of 2024, Greencore’s like-for-like sales surged by 3.7%, contributing to a full-year growth of 3.4%.
- The company’s annual profit projection has been revised to a range of £95m to £97m, with projected total sales reaching £1.8bn.
- This adjustment follows an earlier upward revision in July, showcasing Greencore’s constantly improving financial performance.
- Despite rising operational costs, Greencore’s strategic focus on quality and profitability aims to consolidate its leading position in the convenience foods market.
The UK’s prominent sandwich manufacturer, Greencore, has revised its full-year profit expectations upward again. This adjustment comes in light of unexpectedly strong sales during the fourth quarter of 2024. As reported for the three months ending September 27, the company’s like-for-like sales rose by a significant 3.7%. This growth effectively elevated the overall annual growth rate to 3.4%.
In terms of financial targets, Greencore has updated its annual profit expectations to be in the range of £95 million to £97 million. This revision marks an increase from the earlier forecast set in July, which anticipated profits to fall between £88 million and £90 million. Total sales projections have similarly been lifted, with expectations now set at £1.8 billion.
Dalton Philips, the Chief Executive Officer of Greencore, attributed this outstanding financial performance to the dedicated efforts of the Greencore team. He emphasized the company’s commitment to delivering high-quality, fresh, and healthy food to its customers daily. As Greencore moves forward into the new fiscal year, rebuilding profitability and reinforcing its role as the UK’s leading convenience food manufacturer remain primary objectives.
Importantly, the company’s financial outlook has been adjusted despite increased operational costs. Earlier in April, Greencore raised its prices to counterbalance the financial impact of the National Living Wage increment, which is projected to add an additional £30 million to its expenses. Nevertheless, the management remains focused on strategic growth, quality production, and market leadership.
Greencore demonstrates a strong capacity to adapt and thrive despite financial challenges, solidifying its position as a market leader.
