Greencore set to hit targets in a tough market

Greencore expects to meet its main targets for its current financial year, despite the recent horsemeat scandal knocking about £6m (€7m) off its revenues to date.

The Dublin-headquartered food group yesterday reported a strong enough set of first half results — covering the six months to the end of March — given ongoing market challenges.

Group revenue of £572.9m represented a near 1% increase on the same period last year, while the core convenience foods arm marginally beat market expectations in posting a 1.8% annualised revenue increase to £542.1m.