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Business

Sandwich maker Greencore's summer lift

13 Aug 2009


London's biggest sandwich maker Greencore, which has factories in Park Royal and Bow, today said it has now seen a gradual improvement in its convenience foods markets for three quarters in a row.

The Dublin-based group, which also makes ready meals, chilled soups and sauces as well as pickles, said in the four months to June convenience food sales were 2.5% ahead of the same period in 2008.

In the UK sales were up by 1.8% with rises in food-to-go, ready meals and cooking sauces offsetting falls in cakes and desserts.

It said good weather in the early summer had boosted sales of sandwiches, salads, quiches and sushi but made no comment on the more recent downpours. Greencore mainly supplies own-brand products to retailers, garages and airlines.

It said that it had prepared itself for the consumer downturn, focusing on value lines which had seen its private-label sales do well as shoppers traded down. Cost cutting across the group has also enabled it to raise margins by 0.2% this year.

But Greencore has been hit in one of its other divisions. Its sales of malt to brewers were sharply down as beer sales in the UK plummeted, with only a small recovery in recent months.

Operating profits for the first 10 months of the year are ahead of last year and it now expects to deliver full-year profits "modestly ahead" of 2008's. That is in line with City forecasts of earnings of 26 eurocents a share.

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With sandwiches so popular as a snack and growing every year. We should be aware of the high salt content of most sandwiches and in some sandwiches it is 25% of our recommended daILY SALT INTAKE.

Companies should take action in using less salt in the bread, spread and develop more healthier sandwich.This also applies to ready meals sauces and soups which seem to rely on salt for taste

- Mike Duckett, Worcester park surrey, 08/10/2009 19:28
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