Gourmet dishes boost Northern
By FWi staff
FOOD manufacturer Northern Foods has reported interim profits are up slightly to 42 million, reports The Times.
This was helped by sales of pre-prepared gourmet dishes, which are up 20%, well ahead of the market average.
Overall sales to the big five grocers accounted for 75% of Northerns turnover.
Pre-tax profits were depressed by interest costs as the company increased borrowing to fund a share buyback programme.
Net debt at 30 September was 313m against 281m.