May 23, 2017 / 6:11 AM / 2 months ago

BRIEF-Greencore expects FY results in line with market expectations

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May 23 (Reuters) - Greencore Group Plc

* H1 revenue up 46.1 percent to 1.01 billion pounds, operating profit up 27.1 percent to 55.3 million pounds

* Convenience foods UK & Ireland revenue up 10.6 percent on a pro forma basis, US up 2.5 percent pro forma

* Operating margin of 5.5 percent, down 80 bps as anticipated, due largely to impact of major UK commercial launches

* In UK successfully offset impact of 2 percent inflation in raw materials and packaging, 4 percent labour inflation

* Expects inflation in costs in the UK for rest of 2017, impacts are fully mitigated

* Remains confident in ability to deliver performance in line with market expectations for FY17

* Volume growth remains strong in both the UK and the US, H2 will benefit from commercial activity delivered in H1

* Pipeline of commercial opportunities continues to be encouraging Further company coverage: (Reporting By Padraic Halpin)

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