Northern rides budget market

In the pre-close statement covering the fourth quarter and full year ending 28 March, Northern said sales were up 9% for the quarter and 5% for the year. Trading had remained “robust in a challenging environment” and annual pre-tax profits would be in line with expectations. The group’s chilled food sales grew 5.5% during the year with recession-beating ‘value ranges’, including chilled pizza and discount sandwiches having been launched. The company said its new Grimsby chilled soup site had also performed satisfactorily in its first full year. In the Bakery division annual revenue was also up 5.5%, with the Fox's brand benefitting from the `Vinnie' TV advertising campaign in 2008. Northern said it was “also continuing with the evaluation of an investment in a world class Biscuits manufacturing facility”. Frozen food sales were slightly up year on year, at 2.5%. “The re-launch of San Marco pizza and McDougall's frozen pies during the period will build on our proposition to target the cash conscious consumer,” the statement said. Chief executive Stefan Barden (pictured) said: 'In a tough market, Northern Foods is trading strongly and we anticipate that our full year profit before tax will be in line with market expectations. We have adapted the business successfully to the new retail environment and we are benefiting from our operational and financial strengths. We are well positioned to continue our good progress.”