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Convenience foods maker Greencore upgraded its outlook on adjusted operating profit after reporting stronger fourth quarter performance.
FY21 adjusted operating profit outturn was expected toward the upper end of previous guidance of between £36 million and £40 million, the company said.
For the full year, the group anticipated a reported revenue outturn of approximately £1,320 million, and net debt at year end to be below £190 million, an improvement on previous guidance of below £240 million.
The upbeat guidance followed stronger fourth quarter performance, supported by a stronger demand for food to go categories and new business wins.
For the fourth quarter, revenue grew 27% year-on-year and were above equivalent pre-COVID levels in Q4 2019.
For the full-year fiscal 2021, pro forma revenue grew 6%, though was down 9% from pre-pandemic 2019.
The publication of its full year results is expected on 30 November 2021.