Business News
Dalepak on course for boost in profits
DALEPAK owner Northern
Foods showed its renewed pricing
power yesterday by revealing
it was on course for better-thanexpected
annual profits.
The group, which employs 300
people at its factory in Leeming
Bar, North Yorkshire, said underlying
revenues grew 3.2 per
cent in the past year, with 2.4 per
cent of that figure coming
through pricing.
The boost comes on the back of
a spell of poor results last year
following bad weather which hit
the summer barbecue season.
Sales in the company's chilled
and frozen divisions were up 5.5
per cent and 2.8 per cent respectively,
while the bakery section
showed signs of recovery with
underlying revenues up 1.1 per
cent on a year earlier.
Northern Foods, a major supplier
of products to Marks and
Spencer, has sought to bolster its
fortunes by ditching lower-margin
business and refocusing on
faster-growing markets.
And the company, which also
makes Goodfella's pizzas and
Fox's biscuits, said profits for the
year to the end of this week were
likely to be stronger than the
City's consensus figure of
£47.5m.
Chief executive Stefan Barden,
who took the helm in February
last year, said the company
remained on the right track.
We are operating in a volatile
trading environment with inflationary
commodity prices," he
said. "However, we are confident
that we will continue to make
steady progress in realising the
full potential of the business.''
Last year, the company sold its
speciality bread, chilled pastry,
cakes and flour mill operations
as it looked to focus on key
brands as part of a drive to improve
performance.
8:25am Friday 28th March 2008
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