Profits hit as food group endures tough quarter
Food group 2 Sisters said it remains "resilient" after a tough quarter which saw profits halved.
The business, which owns Fox's Biscuits and Goodfella's Pizza and produces products for the major UK supermarkets, blamed higher input prices for the fall in profitability.
Although sales were up 4.8% to £821.9m for the 13 weeks to April 29, EBITDA was down 54% to £9.4m.
Ranjit Singh, 2 Sisters Food Group chief executive, said: "This was a tough trading quarter for the business, but there are clear signs in the top line performa... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...
