Belgium-based canned and frozen fruit and veg group Greenyard Foods has booked a half-year loss from the businesses left after the sale of potato arm Lutosa to McCain Foods.
The former PinguinLutosa changed its name to Greenyard Foods in June after the disposal of Lutosa. It now has two divisions: frozen fruit and veg arm Pinguin, plus canned food unit Noliko.
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Greenyard Foods presented its results for the six months to the end of September, with consolidated numbers, including two months from the Lutosa business.
Looking at the data from Greenyard Foods’ continuing operations, it reported a loss of EUR3.3 for the period, compared to a profit of EUR1.6m a year ago.
Operating profit before one-off items was also lower, falling from EUR14m to EUR12.6m amid non-cash costs in Greenyard Foods’ frozen business.
However, sales from Greenyard’s continuing operations were up 3.1% at EUR295.6m. Frozen and canned foods sales both increased.
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By GlobalData
