Food group Greencore forecasts bleaker annual outturn

January 26, 2023 06:59 PM AEDT | By Reuters
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(Reuters) - Irish food group Greencore Plc said on Thursday it expects its full-year outturn to be at the lower end of market expectations as industrial action and slow recovery from inflationary pressures hit demand and volumes.

"It's a difficult, volatile market, and the business has got off to a slower start to the year than envisaged," said Chief Executive Officer Dalton Philips.

Greencore said while inflation has been easing in some raw materials and packaging, labour and energy costs continued to hit earnings.

The group said it is focusing on recovering costs from customers.

(Reporting by Muhammed Husain in Bengaluru; Editing by Krishna Chandra Eluri)


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