The Greencore Group has announced pre-tax profits have risen 8 per cent on last year to reach €73 million.
The group, which supplies the food industry with ingredients and manufactures convenience foods, recorded €1.4 billion in sales, an increase of 4 per cent.
The company reduced its net debt by €43 million to €387 million. Greencore increased its focus on its growing convenience food activities by investing significant capital in its operations and disposing of its UK bread business and UK sugar-distribution associate.
The company says significant raw material inflation in the UK convenience food categories was offset by price increases and cost saving initiatives.
