Greencore has once again revised its profit expectations upward following a robust fourth-quarter performance.
- In the fourth quarter of 2024, Greencore’s like-for-like sales witnessed a significant increase of 3.7%.
- The company now anticipates its annual profits to range between £95 million to £97 million.
- This represents an increase from its previous forecast of £88 million to £90 million in July 2024.
- Price adjustments and market conditions contributed significantly to this optimistic outlook.
Greencore has adjusted its full-year profit guidance upward, reflecting stronger-than-anticipated sales in the last quarter of 2024. The company, known as the UK’s largest sandwich maker, recorded a substantial 3.7% increase in like-for-like sales in the three months leading to 27 September. This uptick boosted its full-year sales growth to 3.4%, which is indicative of an upward trend in consumer demand and market positioning.
Anticipating annual profits now between £95 million and £97 million, Greencore shows a marked improvement from its prior prediction in July of £88 million to £90 million. This significant revision is attributed to a combination of effective pricing strategies and favourable market conditions that bolstered its financial outlook.
According to Dalton Philips, Greencore’s chief executive officer, the team delivered what he termed as an ‘outstanding performance’, with results expected to exceed current market expectations. He emphasized the company’s commitment to providing high-quality, fresh, and healthy food, which remains central to its operational philosophy.
The price increase implemented in April, as a response to the National Living Wage rises, added approximately £30 million to Greencore’s expenses. This strategic pricing move was essential in maintaining operational viability while addressing cost pressures, ultimately supporting the firm’s upward profit forecast.
Greencore’s revised profit forecast underscores its strategic acumen in navigating market challenges with a focus on quality and sustainable growth.
