Greencore hails "monumental" year as raises profit guidance again

Greencore Group PLC on Tuesday raised profit guidance for the second time in three months as it reported a strong end to its financial year.

The Dublin-based convenience food maker now expects full-year adjusted operating profit for continuing operations to be around £248 million for the financial year ended September 25, ahead of current market expectations and previously raised guidance.

This would be nearly double £125.7 million reported in the 52 weeks to September 26, 2025, and above company compiled consensus of £236 million to £241 million.

Late July, Greencore raised guidance for adjusted operating profit for continuing operations to between £234 million to £242 million, from £219 million to £231 million before.

Chief Executive Dalton Philips said Greencore has had a "monumental" year, finishing with a strong performance in the fourth quarter.

"We grew volume ahead of the market, drove strong profit growth and we continue to make strides in our integration with Bakkavor. That performance means we are in a position to further upgrade our full year guidance," he said.

Shares in Greencore were up 0.2% at 262.80 pence each in London on Tuesday. They have risen 8.2% in the past 12 months.

Greencore said fourth quarter pro forma revenue increased 4.5% to £1.04 billion, which reflected strong volume growth and recovery of labour, packaging and certain raw materials inflation. Full-year pro forma revenue grew 3.6% to £3.38 billion.

Greencore said first quarter 2027 trading has started positively, with volume momentum continuing from the prior three months.

"While the macroeconomic environment remains uncertain, the group remains confident in its outlook and the resilience of demand in its core categories," it said.

The firm said it continues to progress the sale of its US business, which has been treated as a discontinued operation and held for sale asset. The US business continues to trade positively and in line with expectations.

Greencore will publish full-year results on December 1.

Copyright 2026 Alliance News Ltd. All Rights Reserved.