Dublin-based Greencore, which specialises in the production of convenience and ready-to-eat food items, has upgraded its full-year profit guidance.
The firm said this was down to a strong trading performance across the first three quarters of FY26, which has been boosted by the early success of the integration of Bakkavor following the acquisition in January.
Greencore’s takeover of the fresh prepared food business has enabled it to significantly expand its product portfolio into new categories, including quiche, bread, sushi, chilled dips and desserts.
For the 13 weeks to 26 June, the group reported pro forma revenue growth of 3.2%, with manufactured volumes increasing 0.7%, outperforming the broader grocery sector.
Greencore said its growth had been driven by continued product innovation, including the launch of 375 new products, alongside improvements in operating margins.
Due to its better-than-expected performance during FY26 so far, the firm said it has increased its FY26 adjusted operating profit guidance for its continuing UK operations to between £234 million and £242 million.
The manufacturer added that it is expected to generate approximately £15 million of cost synergies during FY26, with annual savings projected to exceed £80 million over the medium term.
Dalton Philips, Greencore chief executive, said: “The Greencore team has delivered another strong performance in Q3, with volume growing ahead of the market and excellent underlying profit growth, even against a robust Q3 last year. We continue to deliver for our customers, supporting them through the busy summer period and helping them drive growth through product innovation.
“Greencore has never been stronger, and I’m really encouraged by what the enlarged business is starting to achieve. Customers want to grow their business with us, our integration is fully on track, and we have made a fast start on synergy delivery.”
