Produce Investments hit by recall and closure costs



Scottish potatoes and daffodils supplier Produce Investments has seen its profits more than halve after counting the cost of a product recall and the closure of a packing facility in Kent.
The Berwickshire firm said revenues for the year to 25 June rose 3.7 per cent to £185.1 million despite “challenging” market conditions.
That increase in sales helped operating profits grow 14.6 per cent to £9.2m, which chief executive Angus Armstrong described as a “robust” performance.
However, Aim-quoted Produce – which counts the likes of Asda, Marks & Spencer, Sainsbury’s and Waitrose among its... read more

 
29 September 2016 in Business, Views: 37
Source: Scotsman
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