StockMarketWire.com - Convenience food manufacturer Greencore swung to an annual profit as the lifting of pandemic restrictions bolstered growth in its food to go categories.

For the year ended 24 September 2021, pre-tax profit was £27.8 million compared with a loss of £10.8 million year-on-year as revenue rose 4.8% to £1.32 billion.

Food to go categories grew 9% year-on-year.

Looking ahead to the new fiscal year, the company said that while it expects to generate an FY22 outturn in line with current market expectations, profitability would be weighted towards the second half of the year, reflecting the seasonality of the group food to go categories.

'New business wins achieved last year are contributing to our momentum, and we anticipate delivery of profits for the year ahead in line with current market expectations.


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