Greencore Plc reported a steady start to fiscal 2026, with first-quarter revenues rising 5.4% to 500 million, the company said in a trading update.
The pace of expansion represents a moderation from the prior fiscal year, when revenue climbed 7.7%. Greencore said the slowdown had been expected. While growth decelerated, the group still outperformed the market on manufactured volumes, achieving 0.5% growth versus a broader market increase of 0.2%.
Price and inflation were the principal contributors to the revenue increase, adding 3.7% to top-line growth compared with a 2.0% contribution in the prior year. Management highlighted particularly encouraging results across its sandwich, sushi, and premium product ranges as part of that performance.
On the corporate integration front, Greencore outlined the current approach to bringing Bakkavor into the enlarged business. A dedicated team is preparing detailed plans to combine operations. The two businesses will continue to run in parallel for three months before the company begins integration activities.
Greencore reiterated its synergy ambition of "at least 80 million" and confirmed that the previously communicated phasing of those synergies remains unchanged.
Management said the combined group "continues to trade in line with the Board's expectations." For investors and analysts seeking a first consolidated view of the enlarged business, Greencore noted that its half-year results, due on May 27, will present the group as a combined entity for the first time.
Context and outlook notes
From a financial analysis perspective, the update delivers a mix of steady operational progress and execution milestones tied to merger integration. Revenue growth is being driven more by price than volume expansion, while manufactured volumes remain slightly ahead of the market through the quarter. The planned three-month parallel operating period and the explicit minimum synergy target provide concrete milestones to monitor as the integration proceeds toward the combined half-year reporting date.