Exceeded Market Expectations
Greencore exceeded market expectations in profitability, with adjusted operating profit increasing by 28% to £97.5 million.
Strong Financial Metrics
Adjusted earnings per share grew 37% to 12.7p, and free cash inflow increased by 23% to £70.1 million.
Capital Return and Dividend Policy
Completed a £50 million capital return to shareholders, reinstated a progressive dividend policy, and announced a further £10 million share buyback.
Operational Excellence
Successful execution of operational excellence programs resulted in a 0.7% improvement in service levels and a gross margin improvement of 310 basis points since 2022.
Outperformance in Key Markets
Outperformed the overall grocery market, with like-for-like volume growth of 0.5% driven by the sandwich and ready meals categories.