Greenyard Foods Posts 8.4% Increase in First Quarter

Sint-Katelijne-Waver, Belgium-headquartered Greenyard Foods has reported sales of almost €1.120 billion for the first quarter of 2016, which ended on June 30. In comparison with the same period last year the figure was up +8.4%, of which 5.9% was attributed to internal growth.

Greenyard PhotoReceipts generated in the Fresh (€907.5 million) and Prepared (€187.7 million) segments, the later of which includes Pinguin frozen vegetable products, expanded by 6.4% and 21.4%, respectively. Excluding the acquisition of Lutèce, Prepared segment sales grew by 3.5% year on year. Horticulture turnover declined -3.2% to €24.6 million.

Greenyard Foods’ Fresh segment, UNIVEG, reported Q1 results separately due to commitments to its bondholders.

Meanwhile, it was announced that Dirk Van Vlaenderen has joined Greenyard Foods as an independent board member. He replaces retiring Luc Van Nevel as chairman of the audit committee.

About Greenyard Foods

Greenyard Foods is Europe’s second largest producer of frozen vegetables and a major supplier of frozen fruits and ready meals, canned and fresh vegetables and fruits, plants and growing media. With some 8,200 employees operating in 25 countries worldwide, the company’s sales revenues amounted to almost €4 billion last year.