Greencore delivers 'strong, above-market growth' in Q1

(Sharecast News) - Convenience foods maker Greencore said it had delivered "continued strong, above‑market growth" in the first quarter, with momentum from last year carrying into FY26 as revenue and volumes both moved ahead of the wider grocery market. Greencore reported solid volume gains across key categories such as sandwiches and sushi, with premium ranges again performing strongly, while product innovation also remained a key driver, with 129 new launches in the period and further high‑protein, high‑fibre and GLP‑1‑friendly ranges introduced after the quarter end.

Operational performance was also described as robust, with service levels above 99% over the festive period.

Greencore also highlighted that the integration of Bakkavor, the acquisition of which completed earlier in January, has been progressing since last summer, with both businesses operating in parallel initially before merging operations.

Looking ahead, Greencore said the enlarged group was trading in line with expectations, with management citing supportive structural trends across convenience food despite a cautious UK consumer backdrop.

Chief executive Dalton Philips said: "Greencore delivered a strong performance in Q1. Despite a demanding prior-year comparison, we achieved revenue growth of 5.4% compared to Q1 FY25 and volume growth ahead of the market.

"Following the end of a strong Q1 and as we begin our centenary year, we reached an important milestone earlier this month with the acquisition of Bakkavor. It's a great business, and we've all been so impressed by the new colleagues we've met over the past two weeks."

Reporting by Iain Gilbert at Sharecast.com