Greencore delivers strong FY25 results

Greencore continues to refine its operational excellence programme, achieving a 4% productivity improvement (measured by units per labour hour) and investing £43.4m (€49.2m) in capital expenditure (a 34% increase on the prior year)

Greencore posts 7.7% revenue growth and 28.9% adjusted operating profit increase in FY25, while cutting net debt sharply

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Read More: Bakkavor Group plc Greencore

Greencore Group plc, the FTSE-listed convenience food manufacturer supplying major UK retailers and foodservice operators, has recently reported a strong set of full-year results for the 52 weeks ended 26 September 2025.

Financial performance highlights

Revenue rose by £140m (€158m) to £1,947.0m (€2.204.9m), representing a 7.7% increase year-on-year.

Adjusted operating profit climbed 28.9% to £125.7m (€142.6m), while the adjusted operating margin improved to 6.5% (up 110 basis points).

Free cash flow surged to £120.5m (€136.7m) from £70.1m (€79.5m) previously, and net debt (excluding lease liabilities) fell from £148.1m (€168m) to £70.1m, bringing leverage down to just 0.4x adjusted EBITDA.

The revenue uplift was supported by net new business wins (accounting for +2.9%), underlying volume and mix improvements (+2.8%) and pricing/inflation impacts (+2.0%).

The business saw a 2.5% increase in manufactured volumes and 1.1% underlying volume growth, outpacing the broader grocery market’s 0.7% growth.

Greencore continues to refine its operational excellence programme, achieving a 4% productivity improvement (measured by units per labour hour) and investing £43.4m (€49.2m) in capital expenditure (a 34% increase on the prior year).

The company also advances its transformation agenda and is progressing the recommended acquisition of Bakkavor Group plc, expecting completion in early 2026.

Looking ahead

Despite ongoing inflationary pressures in labour and protein costs, Greencore reports positive momentum into FY26 and remains confident in its ability to grow profitably, thanks to its strong platform and disciplined cost management.

Greencore’s results underline the importance of volume growth, new business wins and margin discipline in maintaining competitive performance amidst challenging cost pressures.

Read more: Greencore delivers strong year of growth

© 2025, ShelfLife by Ryan Brennan

Read More: Bakkavor Group plc Greencore

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