Greencore upgrades FY26 profit outlook after strong Q3 trading

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Greencore FY26 profit upgrade

Highlights

Greencore reports total pro forma revenue up 3.2% for Q3 2026, led by 2.3% volume/mix and outperformance versus a 0.4% wider grocery market decline.
FY26 adjusted operating profit guidance for continuing operations raised to £234–£242 million, above market expectations, driven by strong volume and margin improvements.
The group expects about £15 million in FY26 in-year cost synergies and at least £80 million annualised, with integration accelerating and procurement and cross-selling benefits emerging in Q4.

Q3 performance lifts annual guidance

As reported by London Stock Exchange, citing the Regulatory News Service, Greencore says total pro forma revenue rises 3.2% in the 13 weeks ended 26 June 2026, with volume and mix adding 2.3% and price and inflation recovery contributing 0.9%. The group says manufactured pro forma volume growth accelerates to 0.7%, outperforming the wider grocery market decline of 0.4%, despite a tough comparator from FY25.

Legacy Greencore posts volume growth of 0.3%, while legacy Bakkavor grows 1.0%. The company highlights strong demand in quiche, bread, sushi and chilled dips, and says innovation continues to support growth with 375 new products launched during the quarter, including World Cup-related ranges and summer seasonal products.

Greencore says underlying profit momentum is ahead of expectations across both legacy businesses, supported by volume growth and margin improvement. It now expects FY26 adjusted operating profit for continuing operations to be above market expectations in a range of 234 million pounds to 242 million pounds.

Integration progress and market impact

The group says synergy delivery progresses strongly as it implements a combined organisational structure and removes duplicative central roles from April. It also reports an early procurement benefit as suppliers are engaged through the combined organisation, and it continues to expect about 15 million pounds of in-year cost synergies in FY26 and at least 80 million pounds in annual cost synergies within previously stated timeframes.

Q4 trading starts positively, with strong volume momentum carrying over from the latter half of Q3, and Greencore says cross-selling is beginning to contribute, including a first combined new business win in desserts due to launch in August. The group also continues to explore a potential sale of its U.S. business, which is treated as a discontinued operation and held-for-sale asset, while saying that business continues to trade in line with expectations.

Greencore's next scheduled market update is a Q4 and FY26 trading statement on 8 October 2026. The company says it plans to give a more detailed update on integration progress and delivery with its FY26 results on 1 December.

We previously reported on the London Stock Exchange’s proposal to extend equity trading to 22.83 hours a day, reflecting rising demand for near round-the-clock access. Our article explained how retail participation, cross-border investing and always-on digital platforms are pushing traditional exchanges to modernize, even as full 24/7 trading still raises operational and market-structure challenges.

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