Belgian frozen vegetable manufacturer Greenyard Foods has managed to finish its last year as an independent company with positive numbers. Soon, it wil merge with two companies of entrepreneur Hein Deprez, namely Univeg and Peatinvest.
Out of the red
Greenyard Foods' turnover grew 2 % in its broken fiscal year, which lasted until the end of March, to 635.4 million euro. Several cost-cutting measures and the decision to purchase all of its own production locations have helped grow the operating profit by a third to 27.5 million euro. EBITDA grew 22 % to 62.6 million euro and net profit reached 10.8 million euro, a lot better than the 3.5 million euro net loss in its previous fiscal year.
The Greenyard Foods, Univeg and Peatinvest merger is planned for the summer of 2015.