Greencore continues to see tough UK market

Greencore to hold AGM in Dublin today

Greencore has said that in the 13 weeks to the end of December revenue at its convenience food division came to £285.8m sterling - an increase of 2.8% in constant currency terms.

The company, which is Europe's largest maker of pre-packed sandwiches and a major player in chilled food products, issued a management statement ahead of its AGM today.

Greencore said the food market in the UK is challenging, but its US revenues have doubled due to the acquisition of Marketfare Foods and Schau.

The company also starting supplying the Starbucks coffee chain in the greater Boston area during January.

Greencore's ingredients and property division, which makes up about 6% of its revenues, saw revenue of £13.1m, 11.6% lower than the same time last year.

The company said that market conditions continue to be challenging, especially in the core UK market which shows little or no growth. It said it expects this to remain the case for the foreseeable future.