Whiff of scandal lingers at Greencore

Greencore, the convenience foods and ready-meals maker, said yesterday that conditions remain challenging in a UK market still reeling from the horsemeat scandal.

Revenues were flat at £573m in the first half to end March but profits rose 10 per cent to £26.5m.

Greencore made Asda's bolognaise sauce in which horsemeat traces were found in February. It said it expects raw material prices to grow less quickly in the second half of the year.