Greencore US sales could hit €625m in three years

Greencore’s US operations could have the capacity to generate annual revenues of $600m to $700m (€540m to €625m) within three years.

The convenience food group yesterday reported a near 4% year-on-year increase in first half revenue to £639.8m, with operating profit rising by nearly 8% to £40.1m and pre-tax profits — for the six months to the end of March — jumping from £8m to £26.3m.

While growth was driven mainly by its UK operations, Greencore’s US division saw first-half net revenues increase 30%, on a year-on-year basis, and by 15% in like-for-like terms.