Northern Foods shows good signs of recovery

first_imgNorthern Foods’ bakery division showed “encouraging signs of recovery”, with fourth quarter underlying revenue up 1.1%, according to the company’s latest trading update.The firm, which owns brands such as Fox’s cookies and Holland’s Pies, said improvements in the bakery operation were part of an ongoing elimination of low-value products, marginally profitable promotions and the termination of unprofitable private- label contracts. A spokeswoman did not disclose which products were being axed, but indicated that certain biscuit lines were under scrutiny.Overall, Northern Foods’ trading performance continued to meet the company’s expectations, with underlying revenue up 3.2%, prices up 2.4% and volumes increasing by 0.8%. The chilled food division also grew strongly: underlying revenue rose by 5.5% and volumes were up 3.4%, with sandwich and salad volumes “well ahead”.The adverse impact of a strengthening euro was reflected in the company’s frozen division which it said had cut profits in its Irish businesses by more than £1.5 million. Chief executive Stefan Barden said: “We are operating in a volatile trading environment with inflationary commodity prices. But we are confident we will continue to make steady progress in realising the business’ full potential.”last_img read more

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Governor requests Public Assistance Declaration for Grand Isle County

first_imgVermont Governor Peter Shumlin today requested a Public Assistance Declaration for Grand Isle County, with damage estimates finalized on Wednesday exceeding the requirement to meet the federal threshold for assistance. If approved, every county in Vermont will have qualified for federal financial help repairing roads, bridges and other public infrastructure damaged in Tropical Storm Irene. ‘Our state and federal assessment for Grand Isle County found extensive damage to the infrastructure, well above the FEMA requirements for receiving the federal match,’ said Gov. Shumlin. ‘We hope to receive approval of this declaration quickly to prevent delays in repairing damage in Grand Isle.’Governor’s office. 9.15.2011last_img

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