Bond.az - Greencore Plc (LON:GNC) reported a 15% increase in pro-forma adjusted operating profit to £73 million for the first half, while maintaining its full-year profit expectations.
Pro-forma revenue grew 3.2% in the period, with standalone first-quarter revenue rising 5.4%. Total revenue reached £1,318 million, up 43%, while adjusted operating profit climbed 62% to £73.3 million, reflecting the first-time inclusion of BAKK in the results.
The company said its BAKK integration is progressing according to plan and reiterated its target to deliver at least £80 million in synergies within three years.
Net financial debt stood at £817.6 million at the half-year mark, compared with £136.2 million in the same period last year.
Greencore said trading in the third quarter to date has remained robust despite comparisons against a strong prior-year summer period.
The company added it has near-term measures in place to manage potential inflationary pressures related to the Middle East.
The food manufacturer expects full-year adjusted operating profit to be in line with market expectations of £222 million, excluding US operations.
