Greencore on course to meet earnings estimates for current year

Greencore expects to meet earnings estimates for its current financial year, after showing better-than-expected underlying growth in its first half.

The Dublin-headquartered convenience food group yesterday reported strong figures — for the six months to the end of March — with revenue up by 8.2%, year-on-year, to £619.8m (€761m) and adjusted pre-tax profits rising by over 20% to £30.7m.

Group operating profit was reported at £37.2m, up by 14% on the corresponding period the previous year, with adjusted earnings per share ahead by nearly 19% at 7p. The underlying figures were ahead of most analyst estimates.