Northern Foods, the British group which owns Green Isle Foods in Ireland, said today fourth-quarter sales grew 8.8 per cent on last year and that annual sales would be up around 4.7 per cent.
The group said its full-year pretax profit would be in line with market expectations.
Northern Foods said it had launched further value ranges, including chilled pizza and discount sandwiches during the fourth quarter, in response to the ongoing recession.
It added that sales in its chilled, bakery and frozen business were all up on the same period last year.
The company, which has deepened its relationship with Aldi and Lidl in recent months, also said it had established new banking facilities of £250 million pounds to July 2012 which will replace its existing £460 million pounds revolving credit facility.
Shares in Northern Foods, which have lost a quarter of their value over the last three months, closed at 45 pence on Wednesday, valuing the group at around £210 million pounds.
Reuters