Greenyard Reports Positive Third Quarter Sales Results
Third quarter sales of €996.9 million were up 6.3% for Greenyard, the Sint-Katelijne-Waver, Belgium-headquartered producer and marketer of vegetables, fruits, flowers, plants and growing media. Sales for the first nine months of 2016-17 rose 7.9% to €3,143 million.
The company reported on February 23 that internal growth amounted to 4.8% during the third quarter ending on December 31, 2016. The acquisition of Dutch mushroom producer Lutèce added 3.0% to the top line while foreign exchange rates negatively impacted sales by -1.6%, due mainly to the drop in value of the British pound.
As for segment performance, the Long Fresh division (Pinguin and Noliko brand and private label prepared vegetable and fruit products distributed in frozen form as well as in cans and jars, including Lutèce mushrooms), posted the highest percentage gain at +13.1% to €199.1 million.
Fresh sales, up +4.7%, accounted for the greatest sales volume at €787.1 million, while the Horticulture segment advanced 4.9% to €10.7 million.
For the first three quarters of 2015-16, segment performances were as follows: Fresh, +6.2% to €2,538.1 million; Long Fresh, +17.2% to €557.9 million; Horticulture, -0.8% to €47 million.