Greencore lifts earnings forecast

GREENCORE has upped its full-year earnings per share outlook from just above 15c to 16c on the back of a positive set of first-half results.

The results of the Dublin-headquartered food group, which focuses on the British and US markets, were buoyed by a strong showing from its core convenience foods division. Greencore yesterday reported a 2.1% year-on-year rise in group sales, to €434.5 million, for the six months to the end of March.

Group operating profit for the period rose 43%, to €27.7m. And the group also returned to a first-half pre-tax profit, of €11.8m, following a pre-tax loss of €37.8m for the corresponding period last year.