Greencore Pre-Tax Profit For FY2024 Jumps 36%
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Ireland's Industry Magazine For The Grocery Retail And FMCG Sectors.
Greencore Group plc has revealed that its pre-tax profits jumped 36.1% to £61.5 million in the 2024 financial year ending 27 September.
The results, published today, showed that group revenue was down by 5.6% on 2023’s level of £1.91 billion, to £1.81 billion.
However, this was in line with expectations published by the group in its fourth-quarter results and the fall was due to the disposal of its Trilby Trading business.
Like-for-like volume growth at the UK’s biggest pre-packaged sandwich maker was ahead of the wider market, driven by a strong performance in key categories and gross margin improvements to 33.2% this year, up 350 basis points from 29.7% in 2023.
Following Greencore's commitment in May 2024 to return £50 million via share buybacks, it announced that it has so far returned £40 million and will launch the final £10 million in buybacks thanks to the company’s strong performance.
The company also announced the reintroduction of a dividend, proposing 2.0p per share payable on 6 February 2025.
Tesco Ireland Opens New Store In Shannon, Co. Clare
Tesco Ireland has opened a new store in Shannon, Co. Clare, this week, bringing its total store network to 180.
Opening its doors on the day of the general election – 29 November – the store in Shannon Town Centre created 44 jobs for the area.
Councillors Tony Mulcahy and Donna McGettigan gave the store their ‘number one’ as they cut the ribbon, and customer Jim Fogerty became the first person to cast his vote in the first round of the Community Fund.
The new store boasts a great selection of products, as well as an in-store bakery, a coffee station, a DRS machine, and fridge doors, to promote energy efficiency.
Tesco added these elements to enhance the shopping experience, as well as promoting sustainability.
ABP Clones Reduces Carbon Emissions By 80%
ABP has partnered with ESB to reduce carbon emissions at its site in Clones, Co. Monaghan by 80%.
ABP – which is one of Europe’s leading food processors – installed an innovative, state-of-the-art water heating system to reduce the emissions.
The 80% reduction equates to approximately 1,692 tonnes of CO2, which is the same as the emissions from 627,032 litres of diesel, or 268 homes’ oil usage for one year.
The heating system recycles the lost heat generated by refrigeration units, using it to warm the water used for cleaning, processing and hygiene on site.
As a result, only a small amount of water needs to be heated using a smaller, new and efficient gas boiler.
Its principle is similar to the air to water heat pump system used in domestic homes; however, this system boosts waste heat instead of air.
Boots Night Walk Raises Nearly €190k For Irish Cancer Society Night Nurses
Boots Ireland’s Night Walk has raised a record €189,977 for the Irish Cancer Society Night Nursing Service, the retailer announced today.
The remarkable fundraising milestone means that the charity can provide approximately 370 nights of end-of-life care due to the donation.
These nights of care will allow patients to spend their final days at home surrounded by loved ones, as well as providing essential respite for families.
Since 2012, Boots customers and colleagues have raised over €3.5 million for the organisation – funding approximately 9,500 nights of care.
Now in its 13th year, the Night Walk has inspired over 6,000 participants to collectively walk approximately 300,000 kilometres in solidarity with patients and families impacted by cancer.
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