23 April 1999
Albert Fisher restructures

AILING food group Albert Fisher claimed “encouraging progress” in restructuring its operations as it revealed losses that more than doubled at the interim stage.

The group reported pre-tax profits down from £12.6 million to £2.6m for the six months to the 26 February.

Exceptional losses of £56m, related to the write-down of goodwill on disposals, left the group with a pre-tax loss of £53.4m.

Fisher is to amalgamate its three fresh-produce businesses on one site in June. In the half-year, the fresh-produce division lost £1.3m, compared to an operating profit of £1m previously.