Greenyard reports stable growth

Belgian multinational produce supplier Greenyard says it achieved strong sales in the first quarter of the year, with its fresh business segment playing a key role in the positive results.

In a statement, the company said, ‘The company’s sales of € 1,149.3 million shows a double-digit growth of 11.4 per cent in the first quarter of this fiscal year versus last year. The growth is mainly driven by faster than expected organic growth in a large number of its commercial relationships, with a focus on margin improvement and profitability, as well as a positive COVID-19 impact on volume within the Fresh segment.

Volume increases in Fresh generated more than € 100m extra sales, something the company said was ‘mainly thanks to the further strengthening of a large number of Greenyard’s long-term commercial relationships, in addition to a positive COVID-19 impact on volumes in a period when out-of-home consumption of fruits and vegetables was replaced by at-home consumption.’ Fresh sector sales increased in Q1 from € 849.4 million last year to € 959.0 million, an increase of 12.9 per cent, despite some negative effects of COVID-19 on product volumes. The company said, ‘The Long Fresh segment also grew steadily, despite the loss of volumes in the food service and industry customer segment due to COVID-19.’

Photo source: Greenyard

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