Belgium-based Greenyard Foods has booked an 8% increase in first-quarter sales, helped by recent acquisitions and organic growth.
In a trading update, the company posted sales of EUR1.12bn (US$1.25bn) for the three months to the end of June, up 8.4% on a year earlier. Greenyard Foods reported 5.9% “internal growth”.
The business filed a 6.4% rise in sales from its fresh division to EUR907.5m.
Sales from its prepared arm rose 21.4% to EUR187.7m, boosted by its recent acquisition of Netherlands-based canned mushrooms supplier Lutece. Stripping out the impact of that deal, sales grew 3.5%.
Greenyard Foods said sales from its horticulture business dropped 3.2%.
The company plans to report its half-year numbers on 22 November.
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Greenyard Foods was formed in June 2015 following a merger of Belgium-based vegetable supplier Greenyard Foods, fresh produce giant Univeg and agribusiness Peatinvest.
In June this year, Greenyard Foods said its reported EBITDA in the 12 months to the end of March faced pricing pressure and transition issues in its prepared foods segment. Earnings from fresh vegetables and horticulture were “broadly in-line”, the company noted. Recurring EBITDA fell 5.5% to EUR136.2m.
The company revealed annual sales, excluding the impact of M&A and currency exchange, totalled EUR3.97bn, down 1.1% on a year earlier.