Food group hopes for stable sterling-euro exchange rate

PROVIDED the euro stays at between 85 and 88 pence sterling in 2011, Greencore, the Irish convenience food group, said it expects to deliver strong growth in the current financial year.

The company, which announced an agreement to merge with Northern Foods in mid-November, said it expects a solid upturn in its performance in 2011 in a trading up-date yesterday.

In its statement to the markets, the Dublin-based group said the group’s balance sheet is strong and also stressed the adequate nature of its capital funding.