Cold meats closure costs Hazlewood
13 June 2000
Cold meats closure costs Hazlewood
HAZLEWOOD Foods which last year quit the cooked meats market, has reported making significant progress restructuring its business.
But the convenience food company, which cut 430 jobs when it closed its cold meats operation, says the shake-up wiped out full-year profits.
An exceptional cost of 41.4 million resulted from restructuring and the closure of the Hazlewood cooked meats sites at Milton Keynes and Basildon.
The company says it plans to concentrate on its main businesses and sell non-core operations.
For the 12 months to 31 March Hazlewood reported losses before tax of 400,000 compared with a profit of 19.7 million last year.
Turnover was 775.3 million against 788.9 million.
Hazlewood lines include sandwiches, ready meals, recipe sauces and pickles.
Two years ago Hazlewood was the target of protests by disgruntled Welsh farmers who called on the company to label indicate ready-made meals containing imported beef.