Brexit panic at Britain’s biggest sandwich maker Greencore appeared to have died down on Tuesday, as the firm pledged there will be “plenty” of its products on shelves after March 2019.
The FTSE 250 manufacturer, whose goods are sold by retailers including M&S and WH Smith, has previously warned it was “not inconceivable” that food shortages could strike as a result of logistical problems following a hard Brexit.
Today it said challenges from a no-deal departure from the bloc in March “remain uncertain”, but added that it has been building mitigation plans for any fallout.
Finance chief Eoin Tonge said: “We are not panicking... there will still be plenty of sandwiches.”
He said “everyone is now working to the same beat”, with suppliers, retailers and logistics firms looking to avoid disruption next year.
Tonge’s comments came as Greencore posted results for the year to September 28. It saw sales rise 4.2% to £1.5 billion and pre-tax profit increase to £17.8 million from £15.8 million.
It plans to return £509 million to its shareholders after agreeing in October a sale of its US business for £817 million.
