24 March 1999
Iceland’s anti-GM stance pays off

ICELAND, the frozen-food retailer, claims to be reaping the rewards of its stance against genetically modified (GM) food.

Malcolm Walker, chairman and chief executive, said thousands of new customers are shopping at Iceland because of the companys policy of minimising GM foods.

Iceland has just reported pre-tax profits up 27% to £55 million for the year to 2 January, 1999.