Greencore Group (GNC) Q3 2025 TU earnings summary

Executive summary

• Achieved strong Q3 performance with 9.9% revenue growth to £511.1m, driven by volume and new business wins.

• Operational service level reached 99.3%, reflecting high efficiency and customer satisfaction.

• Launched 168 new products, supporting growth in sandwiches, sushi, and ready meals.

• Continued investment in innovation, automation, and business transformation initiatives.

Financial highlights

• Q3 revenue up 9.9% year-over-year to £511.1m; 9-month revenue up 7.6%.

• Food to go categories grew 9.2% in Q3; other convenience categories up 11.4%.

• Manufactured volume increased 3.6% in Q3; underlying volume up 1.9% excluding new business.

• Profit conversion exceeded management expectations due to strong volume and cost discipline.

Outlook and guidance

• FY25 Adjusted Operating Profit now expected at £118-121m, upgraded from previous £114-117m guidance.

• Cautious outlook due to UK economic uncertainty and ongoing inflation, especially in protein and labour.

• Anticipates completion of Bakkavor acquisition in early 2026, pending regulatory approval.