IRELAND: Greencore sees slide in Q2 sales
Irish sandwich maker Greencore Group saw its sales slide for the four months to July as a result of the strong euro against the pound.
The company said a 17% EUR/GBP translation resulted in a 7.5% reduction in turnover to EUR284m (US$416,917), on a like for like basis.
Convenience Food sales were 7.2% ahead in the period reflecting a 3% increase in volume and 4.2% increase on price.
The underlying sales performance of Greencore's convenience food division remained 'solid' in the period to 31 July despite deterioration in consumer sentiment in the UK since June.
Convenience food sales were 7.2% ahead in the period reflecting a 3% increase in volume and 4.2% increase on price.
The company said its US business has had a "very encouraging" start since the acquisition of Home Made Brand Foods on 29 April.
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