Greencore food factory announces revenue growth by 9.3%

Greencore, the UK’s biggest sandwich maker, which has factories in Wisbech and Spalding, has published its quarter three trading statement.

For the quarter, the company has reported year-on-year pro forma revenue growth of 9.3%, driven by a combination of inflation recovery and underlying volume growth, supported by the contribution from new customer wins.

Dalton Philips, CEO, said: “I am encouraged by the progress made during the third quarter and that manufactured volume growth is continuing to support our top line momentum.

“This clearly illustrates the underlying demand for the categories in which we operate, as well as Greencore’s resilience in the current difficult consumer spending environment.

“The food to go category remains hugely relevant to consumers as they contend with the cost-of living crisis, and it is particularly notable that 52% of supermarket sandwiches are now bought as part of a meal deal, up from 46% this time last year.

“We are delighted that our core category is playing such a key role in feeding the UK, and in a way that represents such good value.

“As we enter the fourth quarter, which is a seasonally important trading period for the business, we remain confident that the Group will deliver a full year outturn in line with current market expectations.”

Alongside today’s trading update, Greencore has also announced that meal deal sandwich sales are at a record high.

The meal deal has become a “foodie phenomenon”, with over half of sandwiches sold by supermarket chains now being bought as part of a combo, with the growth being driven in particular by soaring demand for “premium” meal deals which include more luxurious items like premium sandwiches, salads and sushi.