Northern pre-tax profits down
NORTHERN FOODS, the supermarket supplier, reported a decline in pre-tax profits for the six months to 30 September to £30 million against £40.2m last time.
Profits were hit by £11.1m of exceptional charges related to the restructuring of its bakery operations. Turnover rose to £641m from £610.6m.
Northern Foods, which acquired Fletchers Bakeries in April, said it had the financial headroom to make up to £250m in acquisitions over the next year
It said it was likely to be “very selective”, focusing on small in-fill purchases.
- Northern Foods cuts 300 jobs, FWi, 07 July, 1999
- Northern Foods in control of Fletchers, FWi, 26 April, 1999
- Healthy profits for Express Dairies and Northern Foods, FWi, 10 June, 1998
- The Times 17/11/99 page 36
- The Independent 17/11/99 page 24
- Financial Times 17/11/99 page 30
- The Guardian 17/11/99 page 28
- The Daily Telegraph 17/11/99 page 30 (Questor), page 31, page 33 (City Diary)
- The Herald 17/11/99 page 22