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May 31, 2002

IRELAND: Greencore reports solid H1, but ingredients sluggish

Irish food manufacturer Greencore has reported a respectable set of H1 results on strong sales and profits from its chilled and frozen food arms. Overall sales rose 45% (up 5% like-for-like) while operating profits climbed 40% to €50.3m (US$57.1m). Pre-tax profits rose 32% to €22.1m.

Irish food manufacturer Greencore has reported a respectable set of H1 results on strong sales and profits from its chilled and frozen food arms.

Overall sales rose 45% (up 5% like-for-like) while operating profits climbed 40% to €50.3m (US$57.1m). Pre-tax profits rose 32% to €22.1m.

However, both sales and profits declined at Greencore’s ingredients business – comprising Irish Sugar and its malting operations in Ireland, the UK and Belgium. Sales eased off slightly to €211.3m (US$198m) while operating profits fell 7% to €17.7m.

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