Robust performance despite challenging environment
Northern Foods latest trading results show year-on-year sales growth of approximately 3.4 per cent. Despite a challenging trading environment and significant inflation in input costs, performance across ambient and frozen businesses remains robust.
Pat O’Driscoll, chief executive, said,“As has been well documented, the trading environment remains tough and we will need to recover further input cost inflation in the second half year, particularly in utilities. Nevertheless, I am encouraged by the good progress we are making to restructure and refocus the business towards our goals.
The Leeds-based, UK company, which has market positions in ready meals, snacks, frozen pizza and pastry products, has adopted International Financial Reporting Standards.