News greenyard
Greenyard closes third quarter positive
Foods company Greenyard closed the third quarter of its current fiscal year, which ends on March 31, 2021, on a positive note. With the revenue increase of 10,3% year-on-year, the company believes that revenue can increase to €110 million before the end of the fiscal year. For the coming years, the ambition is to increase that figure to €150 million.
Greenyard announced its quarterly figures for the third quarter of the current financial year on Thursday 25 February. This shows that the good sales results have continued, bringing the annual turnover increase to 10,3%. As a result, the food company expects fiscal year-end revenue to be at the top of its projected range of €106 to €110 million.
The sales of both the 'Fresh' and 'Fresh Long' units show positive figures for the third quarter. The fresh segment shows an increase of 11,4% in the third quarter, which is 11,2% ahead of last year. For products with a longer shelf life, these percentages amount to +6,4% and +6,6% respectively. Higher sales in the retail and food industry more than offset the lower sales to foodservice.
Continue growth
Based on the positive results, Greenyard aims to increase its turnover to €2021 million by the end of the 2022/120 financial year. It then aims to expand this to a turnover of €150 million by the end of fiscal year 2024/2025. According to the food group, debt reduction remains one of the most important key issues.
In the next four years, the company also wants to focus on sustainability, such as responsible purchasing and achieving 'zero waste'. In short: produce as little waste as possible. The company believes that increased efforts and investments in sustainability go hand in hand with adding economic value. Improving long-term relationships with customers should also create added value and offer opportunities to expand Greenyard's range. Among other things, it is thinking of expanding the frozen fruit and meal packages categories.
Attracting new growers and retaining important growers is also a spearhead in the coming year. “By investing in the supply chain through innovative partnerships, we can pool group expertise and create alignment with the goal of better economic conditions and a more sustainable supply. That means less waste, efficient logistics use and a balance between supply and demand,” it reports. company in the annual report.
Kimberly Baker
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