Sandwich maker Greencore sees revenue growth despite inflation

Revenue for the company increased in Q3 by 35% year-on-year to €573m. 

Greencore factory in Northampton, Britain August REUTERS/Paul Childs

Sandwich maker Greencore continued to see revenue growth in the last quarter, despite reports of the company making smaller sandwiches to combat inflationary pressures.

The company, which is a leading manufacturer of convenience foods in the UK, reported revenue increased in Q3 by 35% year-on-year to €573m. 

Greencore said it has recorded limited demand impact and that it will continue to monitor the impact of increased prices at a consumer level closely.

“I am encouraged by the progress we have made during Q3 against the backdrop of inflationary pressures for the industry,” said Greencore executive chair Gary Kennedy.

“Revenue and profit conversion through the period has been encouraging and we are confident in our ability to continue to manage the various industry challenges and end the year strongly,” he said.

Greencore’s figures show inflation has not yet hit consumer’s pockets during lunchtime as revenue for Greencore’s convenience range of ‘food-to-go’ items rose 41% to €393m.

The company said it is going into the second half of the year, its peak seasonal trading period, confidently but predicts the impact of inflation will continue into 2023.

Current CEO of the Daa Dalton Phillips is set to head up Greencore later this year.