Malting Business Props Up Profits At Greencore

December 2007 | Company Finance Alert

Ireland-based ingredients and convenience foods firm Greencore, which derives the bulk of its revenue from the UK and Ireland, has reported a mixed performance to September 2007 in its end of year trading statement. The company's convenience food division, which contributes 70% of turnover and operating profit, was hit by rising raw material costs and poor summer weather. However on the flip side, its own ingredients division, which is dominated by malt production for the brewing and distillation industry, received a boost from the same high raw material prices; malt dominates the ingredients division after Greencore was compelled to exit

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