Greencore's full-year results, which are due tomorrow, are expected to mark a year of notable progress, according to Davy stockbrokers. The firm is forecasting full-year revenues of £1.26 billion (€1.58 billion) for London-listed Greencore, representing 5.6 per cent year-on-year growth.

In the convenience foods division, it estimates operating profits will grow by 11.7 per cent to £80.3 million.

Earnings per share are forecast to rise by 14.4 per cent year-on-year to 15.65p, which implies a 50 per cent increase in EPS over the three-year period since 2011.

Davy said Greencore’s focus had shifted from a broad-based convenience foods supplier to a focused “food to go” supplier.

"When the current phase of incremental investment completes in both the US and UK, 'food to go' will account for 60-70 per cent of group revenue from circa 50-55 per cent today," Davy analyst Cathal Kenny said.

In July Greencore disclosed that it had agreed to sell residential land in Littlehampton, West Sussex for about £16.5 million. At the time, Greencore reported a 6.7 per cent increase in revenues to £326.4 million for the 13 weeks to June 27th, buoyed by strong growth in the UK food to go market. The group also said it was operating with good headroom within existing debt facilities and remained focused on further deleveraging.

Davy said it expected Greencore’s net debt to exit the year at £256.4 million. It is forecasting another year of double-digit EPS growth (+12.8 per cent) for Greencore in 2015, driven by revenue growth and an increase in operating margins.