Convenience food group Greencore has reported a rise in third-quarter sales, boosted by growth across its business.
The company today (31 July) posted a 6.7% increase in underlying sales for the 13 weeks to 29 June.
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The 6.7% “core growth” was measured as if Uniq, the UK sandwich firm Greencore acquired last July, was part of the business for the whole of the London-listed firm’s previous financial year.
Including the contribution from MarketFare, the US convenience food firm it bought in April, Greencore’s third-quarter sales increased 11.1%. Total group sales were up 46.9% on a reported basis at GBP298m.
Greencore did see its sales growth slow in the third quarter. Core sales were up 10.3% in the first nine months of its financial year.
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“Performance across the business in the third quarter was somewhat impacted by weather and the Jubilee celebrations. We experienced strong performance in May in the run up to the Jubilee bank holiday helped by some good weather, whereas demand in June was impacted by inclement weather conditions,” Greencore said.
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By GlobalDataHowever, City analysts welcomed Greencore’s trading update despite the slowing sales in the third quarter.
Click here to read analysts’ thoughts on Greencore’s update.
