Why invest in Greencore

Relevance
Keeping our colleagues healthy and safe is a top priority for the Group. We aim to achieve this by continuing to develop a strong safety culture driven by management and employees at every level. The Group uses the Accident Incidence Rate (‘AIR’) to provide a guide of our health and safety performance.

Result
Throughout FY19, the Group developed its culture of reporting minor accidents. This led to a slight increase from 0.51 in FY18 to 0.52 in FY19 in our AIR ratio per 100 employees in the UK.

Relevance
Driving employee engagement is a key output of our people strategy. The employee engagement measure provides insight into how our people are committed to the Group’s goals, how motivated they are to contribute to its success and importantly, how they are feeling about their own well-being.

Result
In FY19, our employee engagement, which was measured using slightly enhanced methodology, decreased by 3% since the last survey, which was conducted in FY17. The Group has prioritised initiatives to improve engagement including increasing employee communication through pulse surveys and colleague forums.

Relevance
The product innovation measure shows our ability to broaden our product proposition. It supports the Group’s strategic priority to drive growth in an expanding food to go market. It is central to our commercial model and deepens our relevance to customers. The Group has a large team of highly skilled chefs and food technologists, who are constantly innovating and developing new products for our customers and consumers.

Result
This year our innovation rate increased to 47%, measured from a base of over 2,400 different products across 20 different categories. This result was supported particularly by increased demand from customers for meat alternative products.

Relevance
Building our customer relationships underpins the Group’s strategic priority to deepen customer relevance. An important component of measuring this is our service level. We track our service level by measuring the product we deliver to customers, on time and in full, compared to what they ordered from us.

Result
We continually meet high levels of service and have maintained an average service level across the Group of 98.2% (same as FY18).

Relevance
Producing safe, authentic and excellent quality food is central to everything we do. The Group uses the British Retail Consortium Global Standard in Food Safety (the ‘BRC’) to measure its food safety levels. The BRC standard is recognised by the Global Food Safety Initiative. The BRC standard provides a level of competence in all aspects of food safety and testing is carried out through unannounced audits on food safety, quality and operational criteria at each of our sites.

Result
In FY19 all of our manufacturing units achieved the AA+ or A+ BRC grade. For the second consecutive year, the Group has met the highest level of food safety performance.

Relevance
Managing food waste is a top priority across our operations. Our aim is to address food waste through prevention, redistribution and use in animal feed. We have committed to reducing food waste to 5.35% of total food production by 2030 to meet the UN Sustainable Development Goal target.

Result
Through a programme of waste avoidance and food distribution initiatives, we continually reduce our food waste. Our food waste reduced by 1.3% from 10.5% in FY18 to 9.2% in FY19.