|
Welcome to Contractors Umbrella Company
Maximum Pay with Minimum Hassle
An umbrella company is a ready-made & ready-to...
Mars in the UK is a leader in confectionery and ice cream, petcare, rice, sauces and drinks. We make some of the UK’s most popular and familiar...
The Barker Ross Group focuses on delivering quality recruitment solutions across the UK
5s is a manufacturing term which epitomises our business values; to constantly drive for the most efficient...
Kerry Group was established in County Kerry, Ireland, as a dairy cooperative in 1972 and has grown considerably through organic growth and...
|
Northern Foods gets boost from £1 Tesco sandwiches
by Amy Wilson - 13/07/2010
"Northern Foods reported strong sales in the first quarter and said it may beat forecasts after supplying more £1 sandwiches and pizzas to Tesco. "
The food maker said Tesco overtook Marks & Spencer as its largest customer in the quarter, the first time it has not been reliant on M&S for the main part of its business. Over the full year, M&S will remain the biggest customer as demand for ready meals increases in the winter.
Like-for-like sales rose 5.5pc in the 13 weeks to June 27, of which 4.2pc came from higher volumes and the remaining 1.3pc from price rises, which enabled Northern to fully recoup food inflation costs.
National Express revs up on merger talkThe company has forecast food inflation in a range of 2pc to 4pc over the year, higher than the 1 pc to 2pc seen in its first quarter. Chief executive Stefan Barden said the inflation it experienced was lower than that reported by some retailers.
Sainsbury said inflation was running at an average of 3pc in its latest quarter, although Marks & Spencer said it experienced deflation in food prices during the three months to the end of June. Tesco does not give an inflation figure, but has said very little of its sales gains are attributable to higher prices, because it has brought in a discount range and offered more discounts.
Overall, food prices are falling from their highs of last year, but the cost of some items, such as beef, is still higher than it was 12 months ago, Mr Barden said.
Northern is targeting annual operating profit of around £54m, broadly the same as last year, and Mr Barden said he expects to meet or exceed that.
The chief executive also stated his intention that Northern Foods will be a leader in the consolidation of the food production industry, and aims to make acquisitions. The chilled food sector, in which Northern competes with Uniq and Iceland's Bakkavor, is set for "a lot of changes" in the next five years, he said.
More Details: http://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/5835570/Northern-Foods-gets-boost-from-1-Tesco-sandwiches.html
|
