By Sabela Ojea
Greencore Group PLC /zigman2/quotes/208705044/delayed UK:GNC +0.78% reported on Tuesday a swing to a pretax profit for the first half of fiscal 2022, and said that its current second half performance is positive.
The London-listed convenience-food manufacturer posted a pretax profit for the 26 weeks ended March 25 of 1.0 million pounds ($1.3 million) compared with a loss of GBP1.8 million for the same period a year earlier.
Revenue rose 34% to GBP770.8 million thanks to strong growth levels in food-to-go and other convenience categories, the company said.
“The group is encouraged by the momentum in revenue and profit conversion in the first seven weeks of the second half, in what continues to be a challenging environment and as the group enters its period of peak seasonal trading,” it said.
Shares at 0708 GMT were up 7.80 pence, or 7.3%, at 115.10 pence a share.
Write to Sabela Ojea at email@example.com; @sabelaojeaguix