Economy takes toll on sales

Oct 7 2009 by Iain Laing, The Journal

NORTHERN Foods, the maker of Fox's biscuits and Goodfella's pizza, has revealed a weakening in sales growth.

Leeds-based Northern Foods which employs 900 staff in its Carlisle ready meals factory, said underlying sales improved by 2.9% in the 26 weeks to September 26.

While Northern said it remained on track to meet expectations for the financial year, analysts labelled the latest figures as disappointing. Revenues for the group climbed by 2.9% on a like-for-like basis following volume growth of 2.5%.

Northern warned profitability in chilled was being impacted by slower volumes.