Greencore trading in line despite coronavirus
Irish convenience food group Greencore said on Wednesday that it was trading broadly in line with expectations despite the Covid-19 outbreak and that it was committed to "keeping the UK fed" during the crisis.
Greencore said it has implemented an "extensive" range of measures to keep colleagues safe. The group's supply chain and production network have remained fully operational and levels of customer service have been "as strong as ever", it said.
It noted that in the last 10 days, the impact of the outbreak on the wider UK food industry, grocery sector and the company itself has become more pronounced.
"While much is changing across UK society in response to the pandemic, it is apparent that the maintenance of a robust food system - at a manufacturing, distribution and grocery store level - will be an increasingly critical part of the national infrastructure, particularly as footfall reduces in foodservice and hospitality formats," it said.
From a demand perspective, Greencore said volumes are holding up well, although there is a pronounced change in mix across different parts of the product portfolio and customers' store formats.
"As a business Greencore is committed to playing its part in keeping the UK fed, working with colleagues, suppliers and customers to maintain food through all scenarios," it said. However, the company also said it was too early to predict the impact of the outbreak on FY20 results.
Chief executive officer Patrick Coveney said: "We are closely monitoring all aspects of our business and are confident that we have the team, customer partnerships and protocols in place to maintain food supply through this uncertain period."