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.

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.

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.

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.