Greencore shares surge as profit target raised on lifted restrictions

Quarterly revenues were up by over 53% on the same period last year and down only 2.8% on the corresponding period in 2019

Greencore chief executive Patrick Coveney said the group is confident of seeing further profit improvement this year on the back of a strong third quarter.

Greencore shares jumped as much as 4% as the Irish-based sandwiches, salads, and wraps maker said it expects better-than-anticipated profits this year on the back of its core markets of the UK and Ireland emerging from Covid restrictions.

Greencore said it saw a “strong improvement” in trading in the three months to the end of June, which cover the third quarter of its financial year.