Business
Q1 Trading Update
Greencore Group plc reported a strong first quarter for FY26, with revenue growing 5.4% to £499.8 million, driven by a 0.5% increase in manufactured volume, surpassing the wider grocery market. This performance, achieved before the acquisition of Bakkavor Group plc on January 16, 2026, saw encouraging growth in categories like sandwiches and sushi, with premium sandwiches volume increasing by double digits. The company launched 129 new products, including successful festive ranges and recently introduced high-protein and fibre options. The integration of Bakkavor is underway, with the combined entity expected to deliver at least £80 million in annual cost synergies, and the enlarged business is trading in line with expectations. Disclaimer*
About this update from Greencore Group Plc
[{"type":"text","content":"\n\n\n \n\n \n29 January 2026\n \nGreencore Group plc ('Greencore' or the 'Group'), the leading manufacturer of convenience foods in the UK, issues its trading update for the first quarter (\"Q1\" or the \"quarter\") ended 26 December 2025.\n \nDalton Philips, Chief Executive, commented:\n\"Greencore delivered a strong performance in Q1. Despite a demanding prior-year comparison, we achieved revenue growth of 5.4% compared to Q1 FY25 and volume growth ahead of the market. This performance reflects the focus and huge efforts of our colleagues, who worked tirelessly on behalf of our customers, especially during the busy Christmas period.\n \nFollowing the end of a strong Q1 and as we begin our centenary year, we reached an important milestone earlier this month with the acquisition of Bakkavor. It's a great business, and we've all been so impressed by the new colleagues we've met over the past two weeks.\n \nAs a larger business, we now have real potential to do even more for our customers, particularly through product innovation, whilst in parallel driving meaningful value for shareholders and wider stakeholders.\n \nOur immediate focus is to execute our integration plans and deliver the benefits of the combination, and we look forward to updating the market as the year progresses.\"\n \nQ1 PERFORMANCE\nPerformance details set out below relate to Greencore on a standalone basis for Q1, which was prior to the acquisition of Bakkavor Group plc.\n· Top-line momentum from FY25 continued into Q1 FY26, with reported revenue growing 5.4% to £499.8m, which included a price and inflation recovery impact of 3.7%.\n \n· Strong volume growth continued throughout the quarter, with manufactured volume growing 0.5%, ahead of the wider grocery market at 0.2%1. Growth was encouraging across several categories, including sandwiches and sushi. We continued to see strong demand for premium ranges, with premium sandwiches growing double digits in volume terms.\n \n· Product innovation continued to drive growth in Q1. In the period, Greencore launched 129 new products, including many successful festive launches. New products included several festive sandwich ranges, including a mince pie brioche style wrap and a Y...