food

Profit conversion at Greencore ‘behind management expectations’

The Dublin-based company has been hit by the surge in inflation

Dalton Philips, Greencore chief executive, said business got off to a “slower start to the year”. Picture: Bryan Meade

Greencore, which is the largest sandwich maker in Britain and Ireland, has said its profit conversion in the 13 weeks to December 30, 2022, was “behind management expectations”.

This was due to a combination of lower volumes and a lag in recovery of inflation over the calendar year end, the company said in a trading update on Thursday.

On the back of this, Greencore is implementing further measures through “Better Greencore”, accelerating, and broadening the ...