Pound hits Greenyard sales

The international marketing magazine for fresh produce buyers in Europe
Tom Joyce

BY TOM JOYCE

@tomfruitnet

Pound hits Greenyard sales

Belgium’s Greenyard Foods has seen its first-quarter results impacted by the slide of the British pound

Pound hits Greenyard sales

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Belgian produce giant Greenyard Foods has announced a decrease in first-quarter sales of 0.9 per cent, as currency fluctuations, including the weakening British pound, hit company revenues, Just Food reported.

In a statement the company revealed sales of €1.1bn in the three months to the end of June. Of the company’s different business segments, Long Fresh saw the largest drop of 4.9 per cent to €178m due to supply shortages as a result of last year's difficult harvest.

Although the Fresh sector reported a 0.1 per cent drop in sales to €906m, the company’s Horticulture unit saw revenue rise by 3.6 per cent to €25m.

Greenyard also announced that the transaction to acquire Mykogen, the Polish mushroom substrate supplier purchased from private equity firm Abris Capital Partners for €93m in June, was expected to be closed before the end of the year.

Greenyard recorded a fall in full-year net earnings for the year to the end of March to €0.7m due to "one-off'' costs.

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