Greenyard raises turnover

Greenyard raises turnover

Belgian fruit and vegetable producer Greenyard saw its turnover rise 6.4 % in its financial year's third quarter, as it benefited of higher prices and regained some market share.

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Growing market share

Third quarter turnover was 983.7?million euros, which mainly came from its 'Fresh' department (up 5.7?% to 771.8?million euros). Greenyard managed to regain some market share, but that effect was partly offset by the divestment in some loss-making areas and a shortage in fruits like avocados. The 'Long Fresh' division (frozen products and conserves) saw its turnover go up 8.9?% to 211.9?million euros.

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During the first nine months of the financial year, Greenyard's turnover grew by 7.9?% as both volumes and prices rose. The cumulative turnover from continued operations in this period was 2.95?billion euros, up 1.7?% compared to the same period a year earlier. The full-year results are only published on 16?June.

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Greenyard is in the process of restructuring, including divesting several activities. That action was taken after the company got tangled in an overly high debt rate, declining margins and a listeria contamination in a Hungarian factory. A solution was found in starting collaborations with major retailers, such as Delhaize, Albert Heijn and Carrefour.

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