Northern posts loss in "tough" conditions
Northern Foods, which has a distribution centre in Nottingham, has reported growth in like-for-like sales of 2.7 per cent for the six months to 2 October, but the company reported an overall loss of £9.5m for the period, down from its £12.9m profit in the first half of 2009. Revenue dropped to £453m during the period, down from £467m in 2009.
Pre-tax profit at the food producer was slightly reduced in the period at £9.6m, down from £10.4m in 2009.
Profit in the company's chilled and bakery divisions were up, although frozen recorded a loss of £4.6m.
Chief executive Stefan Barden said: "Whilst trading conditions remain tough, we are taking decisive actions to ensure Northern Foods remains well placed for these competitive and uncertain market conditions. Our finances remain strong and we continue to trade in line with market expectations."
In a statement to the Stock Exchange, Northern Foods highlighted its investment in automated technology for Fox's Biscuits and its plans to streamline the company into two divisions, chilled and branded.
