Greencore, the largest pre-packed sandwich maker in the UK, has reported a record high of 52% of sandwiches sold by supermarkets being part of a meal deal. This marks an increase from 46% last year and has been driven by customer demand for premium meal deals.
The company’s revenue for the three-month period ending June increased by 1.9% to £495.4m, with revenue in the food-to-go categories rising by 0.6% to £335.3m. Additionally, revenue in other convenience categories also experienced growth, rising by 4.7% to £160.1m.
Greencore expects its full-year performance to align with market expectations and its CEO, Dalton Philips, expressed encouragement regarding the progress made. In the near-term, the company’s priority is to rebuild profitability and returns, which will serve as a foundation for future growth.
These record-breaking meal deal sandwich sales by Greencore emphasize the underlying demand for the categories in which they operate.
Sales Growth
The sales growth of sandwich meal deals has contributed to Greencore’s overall revenue increase. Supermarket sandwiches now make up 52% of the total sandwiches sold, up from 46% the previous year.
This growth in sales can be attributed to customer demand for premium meal deals, which include deluxe items like premium sandwiches, salads, and sushi.
The revenue for the three months ending in June increased by 1.9% to £495.4m.
Specifically, revenue in the food-to-go categories increased by 0.6% to £335.3m. This increase is mainly due to inflation recovery and a 2% increase in manufactured volumes.
Additionally, revenue in other convenience categories rose by 4.7% to £160.1m. This growth is driven by inflation recovery and new business wins.
Greencore expects to generate a full year performance in line with market expectations. The company is encouraged by the progress made during the third quarter, showcasing its resilience in the current consumer spending environment.
Revenue Increase
Revenue for the three months to the end of June saw a 1.9% increase to £495.4m, driven by inflation recovery and a rise in manufactured volumes.
The food to go categories experienced a 0.6% increase in revenue to £335.3m, primarily due to the inflation recovery and a 2% growth in manufactured volumes.
In addition, revenue in other convenience categories rose by 4.7% to £160.1m, fueled by inflation recovery and new business wins.
Greencore, the largest pre-packed sandwich maker in the UK, is pleased with these results and expects to generate a full-year performance in line with market expectations.
CEO Dalton Philips is encouraged by the progress made during the third quarter and the company’s resilience in the current consumer spending environment.
As Greencore enters the fourth quarter, which is a seasonally important trading period, the focus remains on rebuilding profitability and returns to establish a foundation for future growth.
Future Growth
Looking ahead, the focus for the convenience food manufacturer will be on building profitability and returns in order to create a strong foundation for future growth.
Greencore’s CEO recognizes the underlying demand for the categories in which they operate and believes that there is ample opportunity for expansion. The company aims to capitalize on this potential by continuing to offer high-quality meal deals that cater to customer preferences for premium options.
Greencore’s success in increasing its revenue in the food to go and other convenience categories reflects its ability to adapt to changing market trends and meet consumer demands.
As the company enters the fourth quarter, a crucial trading period, it will strive to maintain its momentum and further strengthen its position as the leading pre-packed sandwich maker in the UK.
By focusing on profitability and returns, Greencore aims to lay the groundwork for sustained growth in the future.
