Meal deal sandwich maker Greencore sees sales boosted by higher prices

A sandwich and sushi maker supplying UK supermarket giants from M&S to Tesco has reported a surge in revenue after increasing its prices.

Greencore told investors it sunk to a loss this year after battling higher costs. The Dublin-based convenience food manufacturing firm said its revenue jumped by a fifth to £926m in the six months to the end of March, compared to the same period last year. Furthermore, Greencore said it had “accelerated a headcount reduction programme”, which resulted in the reduction of around 250 roles by the end of March. The firm, which has around 14,000 staff and sites in Leeds, Selby and Kiveton, said it expects its full-year earnings to be in line with current market expectations.

Dalton Philips, Greencore’s chief executive, said: “We are pleased to have delivered strong revenue growth in the seasonally quieter first half of the year, and it is a clear demonstration of Greencore’s ongoing resilience in what is a difficult consumer spending environment.”