Pre Close Period Update

Greencore Group PLC
27 March 2002

GREENCORE GROUP PLC



CONTACT: MR. B.J. POWER                                 TELEPHONE [phone]


    FAX [phone]



GREENCORE GROUP PLC ('GREENCORE') PRE-INTERIM CLOSE PERIOD UPDATE



The following is the basis of an update that will be provided to analysts before
Greencore's entry into the close period prior to its interim results which will
be announced on 29 May 2002.



INTEGRATION AND DISPOSALS



Further progress continues to be made in reshaping and refocusing the Group
following the acquisition of Hazlewood Foods in January 2001.   Since the
Chairman's supplementary statement at the Annual General Meeting on 7 February
2002, a further three businesses have been sold and consent has been obtained
from the Department of Enterprise, Trade and Employment for IAWS Group plc to
increase its stake in Greencore's flour milling business, Odlums, to 50%.
These four transactions will generate some €43m of proceeds which will be used
to pay down debt and will result in total proceeds to-date of approximately
€151m from the Group's disposal programme.   The Group remains on track to
achieve its target of €190m by May of this year.   The Group also remains
confident of the achievement of its pre acquisition synergy target of  Stg£7
million in its 2002/2003 financial year.



 At the Annual General Meeting, the Chairman referred to three substantial
integration projects that were ongoing.  The consolidation of the ambient sauces
and pickles businesses into the enlarged facility at Selby, Yorkshire is now
successfully completed.    In pizza, production has now commenced in the new
facility in North Wales although the transfer of production to  this site is
likely to occur over an extended period up until the financial year-end.   In
cakes, the rationalisation of the cost base in the Hull factory is well under
way with a scheduled completion date of 31 May 2002.  An improvement in its
efficiency is being achieved, although this operation remains well short of its
potential.



TRADING



In Ingredients, trading is in line with expectations having taken into account
the reduction of profits in sugar as  a result of the previously reported issues
on the sugar production campaign which have been resolved.    In Chilled and
Frozen,  sandwiches and sauces in particular continue to perform strongly.    In
Ambient Grocery, the value bread market continues to be very difficult while the
Group's other businesses are generally trading in line with expectations.   In
Agribusiness, trading has been satisfactory in the context of a late start to
the key spring selling season because of adverse weather conditions.



                                      -2-



Earnings per share, adjusted to eliminate goodwill amortisation and exceptional
items, are anticipated to be a little below the comparable reported figure for
the first-half of last year.



Group Chief Executive, David Dilger, said  'We have made substantial progress
with our plans to refocus the businesses of the Group and to change the shape of
our portfolio, concentrating on our businesses which have strong market
positions and which are showing good growth potential.   We expect to make
further announcements in this area in the coming weeks.   Appropriate management
action is being taken in the small number of our businesses which are currently
under-performing.     We remain confident that a stronger, higher growth
Greencore will emerge from this transformation process'.





B.J. POWER

DIRECTOR & SECRETARY





GREENCORE GROUP PLC,

ST. STEPHEN'S GREEN HOUSE,

EARLFORT TERRACE,

DUBLIN 2.
               27th March, 2002.





                      This information is provided by RNS
            The company news service from the London Stock Exchange
     
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