Packed sandwich giant Greencore Group hailed “a year of real achievement” after operating profits rose by almost 8% on a constant currency basis to €72.9m.

Like-for-like sales in the company’s core convenience arm rose by 2.2% over the previous year, with profitability for the division up 14%. However, total sales for the group – whose ingredients division saw like-for-like sales dip by 8% – fell slightly to €1.104bn.

The news comes after the group last week announced the sale of its loss-making water business to Highland Spring in a £17.5m deal.

"This has been a year of real achievement in the face of considerable headwinds,” said chief executive Patrick Coveney.

“We have driven significant performance improvement in our core convenience foods business… re-financed our group, reshaped our business portfolio and embedded a new leadership team at all levels.”

Read more
Highland Spring snaps up Greencore Water (20 November 2009)
Sarnie revival is sign of economic recovery (19 September 2009)
Convenience food sales up at Greencore (13 August 2009)