Northern Foods hails 'good progress'

NORTHERN Foods, which makes Fox's biscuits and Goodfella's pizzas, has reported "good progress" despite the "challenging" economic environment.

A trading statement today shows total revenue up 6.5 per cent in the first half of its year. Increased prices have helped to offset the impact of lower volumes.

Stefan Barden, Northern Foods' chief executive, said: "We have excellent products, a strong balance sheet and are making very good progress in strengthening our core business.

"Although profits are weighted to the second half of the year, at this stage we remain on schedule to deliver profit before tax and restructuring in line with expectations."