LONDON (ShareCast) - Food business Greencore Group revenue rose 6.4% as the company continues its expansion to drive in the US.
The firm, which supplies sandwiches to chains such as Starbucks and 7-Eleven, said revenue for the year ended 26 September was £1.27bn, while group operating profit rose 11.4% to £82.9m and adjusted earnings per share were 15.9p, a 13.6% increase year-on-year.

"This has been a year of strong strategic, operational and financial progress for Greencore," the group's chief executive Patrick Coveney said.

"The group's focus on extending our leadership in the food to go market is yielding great results, with like-for-like revenue growth in that area of the business exceeding 15%.

"We have strong market positions, a clear strategy, and are continuing to lay the foundations for future growth through a significant capacity and capability investment programme in both the UK and the US."

The London-listed company also announced it was set to develop its first plant on the West Coast of the US. The facility, located in the state of Washington, will cost £20m and is expected to increase production capacity and enable the firm service a newly-acquired contract.

Greencore said it was proposing a final dividend of 3.25p per share, giving a total dividend of 5.45p per share, up 13.5% from the previous financial year.

Greencore shares were 1.77% up to 264.80p at 08:56 on Tuesday.

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