Britain’s biggest sandwich maker has pushed through supply chain problems to increase sales by more than a quarter since last year.
Greencore, which supplies all the country’s major supermarkets, saw Q4 revenue soar by 27 per cent compared to 2020.
Revenue now stands marginally above 2019 levels, before the Covid-19 pandemic struck.
Despite predictions that pre-made sandwiches will not recover until 2026, Greencore’s “food to go” sales are just 2 per cent below what they were two years ago.
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Compared to 2020’s fourth quarter, around the time of the second wave, this is up 37 per cent.
Greencore predicted revenue of £1.32 billion for the full year, an increase of £1.27 billion from 2020.
It expects operating profit to be “towards the upper end” of previous guidance of between £36 million and £40 million.
Net debt could finish the year below £190 million, compared with previous forecasts of up to £240 million.
Greencore operates 13 “food to go” manufacturing units, including eight focused on sandwiches, three on salads and two on sushi.
Shares slumped in August last year when it was forced to close its Northampton plant, as almost 300 workers tested positive for Covid-19.
Along with supplying every major UK grocer, Greencore delivers to more than 10,000 smaller shops.
Shares rose by 0.5p to 137.9p when markets opened this morning.
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