Resilient Greencore looks ahead

FOOD GROUP Greencore reported a resilient half-year performance yesterday, as it absorbed the pain of higher raw material costs by recording a 3% fall in pre-tax profits.

The company met analysts' expectations with profits of €30.1 million in the six months to March.

Sales were ahead by 4% on a like-for-like basis. Input costs rose sharply as grain and egg prices soared in response to unfavourable weather conditions and events such as the bird flu epidemic.