Belgium-based multinational Greenyard achieved strong sales growth in its first financial quarter, driven by its Fresh business segment.
The company's total sales grew by 11.4% year-on-year to €1,149.3m, with the volume increase in Fresh generating more than €100m extra sales.
Greenyard said the growth is mainly driven by faster-than-expected organic growth in a large number of its commercial relationships, with a focus on margin improvement and profitability.
In addition, there was a positive impact from the Covid-19 pandemic on volumes in a period when out-of-home consumption of fruits and vegetables was replaced by at-home consumption, it said.
Fresh sales increased in Q1 from €849.4m last year to € 959.0m (+ 12.9%).
There was a slight increase in sales in the Long Fresh segment - which included canned and preserved products - despite negative Covid-19 impact on volume.
The Long Fresh segment also grew steadily, despite the loss of volumes in the foodservice and industry customer segment due to Covid-19.
Long Fresh sales increased by 4.6% from €181.9m last year to € 190.3m.
The Link LonkAugust 31, 2020 at 03:59PM
https://www.freshfruitportal.com/news/2020/08/31/greenyards-fresh-division-drives-q1-sales-growth/
Greenyard: Fresh division drives Q1 sales growth - Fresh Fruit Portal
https://news.google.com/search?q=fresh&hl=en-US&gl=US&ceid=US:en
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