Greenyard has revised its half-year adjusted EBITDA forecast upwards after what it termed a faster-than-anticipated recovery in the first half of 2019.
The company announced on Tuesday that, based on its current expectations and subject to finalisation of its half-year results, it expects adjusted EBITDA (before application of IFRS 16) for the half year ending 30 September 2019 to amount to approximately €47.5m, as compared to the €43-45m that was forecasted in August.
“This expected result follows from a positive recovery of the business and rigorous implementation of the Transformation Plan, with a strong focus on margin and profitable volumes and right-sizing the overhead cost base,” the company said in a press release.
Greenyard’s H1 results will be published on 19 November 2019.
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