A SANDWICH and ready meal maker has seen earnings rise as a transformation plan continues to gather momentum.

Greencore Group says it is benefiting from a greater presence in the food-to-go sector, with new customer agreements augmenting investment in production capacity.

The business, which has a factory in Consett, County Durham, also said it has profited from a deal to buy US rival Peacock Foods as it has extended its presence in the convenience food market.

According to its latest results for the six months to March 31, released yesterday, revenue was up 46 per cent on a year ago to £1.1bn, with operating profit 27 per cent higher at £55.3m.

Bosses added the increase was helped by sales across its UK and Ireland convenience foods division rising to £685.7m, with group earnings before interest, tax, depreciation and amortisation 31 per cent better off at £79.1m.

Patrick Coveney, chief executive, said: “This has been a transformational period and we are pleased to report strong growth.

“In the UK, we have delivered significant expansion and investment following new long-term business wins, as our food-to-go business continues to grow rapidly.”

The company’s Consett plant makes chilled ready meals, soups, quiches and sauces.

Greencore brands itself as the world’s largest sandwich producer and says it makes 140 million supermarket own-label ready meals and 40 million quiches every year.