Greencore writes off pizza business
The company said it had decided to quit the market for chilled pizza in Britain, where it held the number two position with a 22% share, because the operation had "consistently failed to deliver the performance or returns that the group demands."
Chief financial officer Patrick Coveney, who took up his position a month ago after Patrick Kennedy defected to become chief executive of bookmaker Paddy Power, said the company had been flagging difficulties with its pizza operations for two years.