FDBusiness.com

Flat Sales and Underlying Profit at Northern Foods

 Breaking News
  • Orkla Moves into New HQ Orkla, the Nordic region’s largest branded consumer goods company, has moved into new headquarters in Oslo, Norway. The move marks a new era in the company’s history, with Orkla’s businesses in Norway now assembled under one roof. More than 900 Orkla employees are based in the new office premises. “The building we are now moving into is [...]...
  • New Heads For Carlsberg Group’s European Businesses Lars Lehmann has been appointed as Executive Vice President (EVP) for Carlsberg Group’s Eastern European region and as a member of the global brewer’s Executive Committee (ExCom). He will replace Jacek Pastuszka, who will change from EVP Eastern Europe to Western Europe, while current Western Europe EVP Chris Warmoth reverts to Group Strategy as EVP. Effective [...]...
  • Rising Prices Drive Irish Grocery Sales Growth The latest figures from Kantar Worldpanel show the Irish grocery market grew by 3.5% in the 12 weeks to 24 February 2019, putting the sector on a solid footing as the UK finalises preparations to leave the EU. After a prolonged period of deflation, an upward trajectory in grocery prices is making a significant contribution [...]...
  • New EU Rules to Ensure Fairness in the Food Supply Chain The European Parliament has approved a new set of EU rules that will blacklist practices, such as late payments for delivered products, late unilateral cancellations or retroactive order changes, refusal by the buyer to sign a written contract with a supplier and the misuse of confidential information. Threats of retaliation against suppliers, for instance delisting [...]...
  • Mondelēz International Invests in Prebiotic Functional Snacks Mondelēz International has taken a minority investment in Uplift Food, a US-based early-stage start-up focusing on prebiotic functional foods. This is the first venture investment the company is making as part of SnackFutures, the company’s innovation and venture hub aimed at unlocking snacking growth opportunities around the world. A key pillar of the company’s consumer-centric growth [...]...

Flat Sales and Underlying Profit at Northern Foods

June 09
14:23 2010

UK convenience food group Northern Foods has reported flat full year underlying profit of £39.2m on revenue slightly ahead from £975.2m to £977.0m. After restructuring items of £26.6m, primarily reflecting the closure of the Hull ready meals facility following the loss of the site’s anchor customer, and the impairment arising from the group’s Swansea site, profit before tax was £7.4m, down from £12.1m in the previous year when restructuring items totaled £35.4m.

Stefan Barden, chief executive of Northern Foods.

“Northern Foods has traded solidly in challenging market condtions. We expect these conditions to continue, but we remain well positioned for the future,” says Stefan Barden, chief executive of Northern Foods. “Even during these uncertain economic times we continue to invest in brands, cost efficiency and technology to deliver long term shareholder value supported by our strong financial position.”

About Author

colin

colin

Related Articles



Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • June 18, 2019Multimodal 2019
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber

Subscribe Here



Advertisements