Northern Foods avoids downturn

15-01-2008

Northern Foods avoids downturn
Northern Foods experienced 3.5 per cent year-on-year advance in underlying revenue last quarter, it announced in its interim management statement today.

The Marks & Spencer (M&S) ready-meal provider said that performance in the 13 weeks ending December 29th met expectations, with strong performance of sandwiches, salads, puddings and baked goods.

M&S released negative figures for the third quarter last Wednesday and there were concerns that Northern Foods would be affected.

But, in spite of "challenging market conditions" for the Christmas season, the company, whose brands include Goodfellas pizza and Fox's biscuits, has seen its shares rise by more than six per cent in early trading today.

The statement said that the Leeds-based company had increased prices of bakery goods to offset higher commodity cost increases, while volumes decreased by 3.1 per cent.

"Our key Christmas period has been delivered effectively and to plan, and the recent successful recovery of commodity cost increases has had limited impact on sales volumes," the food maker's chief executive Stefan Barden said.

Bookmark with:
Bookmark with: Digg Digg Bookmark with: Del.icio.us Delicious Bookmark with: Reddit Reddit Bookmark with: StumbleUpon StumbleUpon Bookmark with: Google Google Bookmark with: Technorati Technorati Bookmark with: Netvouz Netvouz

Latest News:

Search News
News Front Page
Accountancy / Tax
Advertising / PR
Armed Forces
Automotive
Aviation / Aerospace
Banking / Finance
Charities / Voluntary
Childcare / Youth
Construction / Property
Customer Services
Education / Training / Teaching
Emergency Services
Engineering / Electronics
Entertainment / TV / Theatre
Graduate Roles
Health / Beauty
Hotel / Catering / Restaurants
HR / Recruitment
Insurance / Pensions
International / Overseas
IT / Internet
Legal
Management / Business
Manufacturing / Industry
Media / New Media / Creative
Medical / Healthcare
Pharmaceutical Industry
Public Sector
Retail / Wholesale
Sales / Purchasing / Marketing
Science / Technology
Secretarial / PA / Admin
Skilled / Semi-skilled Manual
Telecommunications
Transport / Logistics
Travel / Tourism / Leisure