Greenyard Posts Flat Sales Results for Third Quarter

Sint-Katelijne, Belgium-headquartered Greenyard, a prepared vegetables and fruits, flowers and plants and growing media company, on February 23 reported sales of €995.6 million (-0.1% year on year) for the third quarter ending on December 31, 2017. Its like for like performance improved from -2.0% in the first half to -0.4% in Q3.

Year to date sales for the first three quarters tallied €3,090.3 million, reflecting a like for like drop of 1.5%.

Q3 results for Greenyard’s Long Fresh division (which includes Pinguin frozen, Noliko canned and prepared vegetable products) yielded a -0.4% decline year on year, as sales amounted to €198.4 million. Like for like receipts were down a tad at -0.1%.

Fresh division year on year sales slipped -0.6% to €782 million, while like for like receipts declined by 0.7%.

The horticulture division reported a year on year sales rise of 42.1% at €15.2 million, while like to like turnover was up 9.9%. The first time consolidation of Mykogen mushroom growing media figures (+30.9%) explains why total sales growth exceeded 40%.