Food firm makes £26.5m investment
Mittwoch, 11 November 2009
Leeds-based food group Northern Foods is attempting to increase its market share by investing £26.5m in technology for its Fox's Biscuits factories.
The technology is aimed to reduce "pinch-points" at the factory, and would be part of its move to having two world-class facilities, rather than the current three sites in Batley, Uttoxeter and Kirkham.
A return on the investment of 20% is expected, and the firm has already announced a £15.3m rise in pre-tax profits for the six-month period ending September 26, making £7.2m rather than a loss of £8.1m.
The third 'Vinnie' campaign - the name of a panda used to promote the product - was credited with the upturn, which has seen brand share rise to its highest level since 2006.
Demand for Northern Foods product was still strong, the company added, with like-for-like sales showing a 2% increase, with chilled and bakery foods most popular.
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