Shares in Northern Foods, the UK-based food group, rose this morning (13 January) after the Fox’s biscuits maker posted a 3% rise in underlying third-quarter sales.
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The company, which also makes Goodfella’s pizza, said success in pushing through higher prices had boosted revenue. Volumes during the 13 weeks to 27 December dipped 0.8%.
Total sales for the third quarter, including the impact of Northern’s decision last year to mothball its Fenland Foods factory, inched up 0.5%.
Chief executive Stefan Barden said Northern’s “key” Christmas trading period has been “delivered effectively”.
“We continue to respond to the recessionary environment with new value ranges alongside our traditional premium products,” Barden said.
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By GlobalDataUnderlying sales from Northern’s chilled division rose 5.3%, while third-quarter revenue from the company’s bakery business rose 1.9%.
However, the weakness of the pound against the euro weighed on Northern’s sales from its frozen foods business. The unit posted “stable” sales year-on-year, the company said.
For the nine months to 27 December, Northern said group underlying sales rose 3.5%. Excluding the impact of the Fenland move, sales rose 4.3%.
