Greencore Raises Profit Outlook on Bakkavor Integration

Greencore has lifted its full-year profit forecast after a stronger-than-expected quarter and early benefits from its U.S. acquisition of Bakkavor, expanding into quiche, bread, sushi, and chilled dips. For the 13 weeks to 26 June 2026, pro forma revenue rose about 3.2% and manufactured volumes grew 0.7%, driven by a broader product lineup and 375 new launches, outperforming the grocery market. The company now expects FY26 adjusted operating profits for continuing UK operations of £234 million to £242 million, supported by cost synergies around £15 million this year and at least £80 million annually in the medium term. Management cited organisational efficiencies and procurement savings from the integration, with early cross-selling opportunities including the first joint desserts contract due to start in August. Trading remains robust into the fourth quarter, with strong cash generation and a focus on completing the U.S. disposal while continuing to drive integration gains. Greencore also highlighted ongoing synergies and product diversification as foundations for long-term growth, as it seeks to capitalise on its enlarged platform.