Greencore is expecting to report full-year revenue of approximately £1.95bn, after suggesting its Q4 performance was driven by new business wins and favourable weather.

The supermarkets supplier also cited product innovation a strong contributor to its growth, with 130 new products launched during Q4.

Greencore was releasing a Q4 trading update for the three months to 26 September, ahead of publishing its full-year results on 18 November.

As a result of its performance across the final quarter, Greencore is now anticipating a full-year adjusted operating profit of around £125m, above its previous guidance.

The group also reported that it has strong cashflow and had continued to strengthen its balance sheet in Q4, with net debt excluding lease liabilities expected to be approximately £70m, down from £148m in the previous financial year.

“We had another excellent quarter in Q4, which rounded out an exceptional year,” commented Greencore CEO, Dalton Phillips.

“I am proud of the Greencore team for the passion and commitment they bring each day, allowing us to deliver for our customers. While there are wider economic headwinds, the strong performance means we are again upgrading our full-year guidance.

“Our focus in the new financial year remains on producing high-quality, fresh food for consumers across the UK.”

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