Hillsdown

Article Abstract:

Hillsdown is a UK food manufacturer which reported a pre-tax loss for 1995. The company's underlying operating profit roose by 3% in that year, with a goodwill write-off leading to the loss. Raw material costs rose, and drinking chocolate and biscuit sales were affected by a hot summer. Chilled foods performed well with a rise in profit of 13% to 40.3 million pounds sterling. Maple Leaf Foods, a Canadian business, was sold, as was Harris, a pig processing business.

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Farepak

Article Abstract:

Farepak packs food hampers and most customers pay in advance through savings schemes, which provide the company with a good cash flow. Farepak acquired Kleeneze in 1995 and has updated its catalog which appears to have improved Kleeneze's performance. Transfood was affected by concern over mad cow disease in 1995 to 1996 and could still be affected in 1996 to 1997. Farepak's profit for 1996 to 1997 is forecast at 8.5 million pounds sterling by Hoare Govett.

Farepak PLC

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Hillsdown runs hard to stand still: the recent disappointing set of interim results suggests that previousl growth expectations for Hillsdown may not now be realised. The shares could be dull performers

Article Abstract:

Hillsdown Holdings, a food processor and housebuilder, had disappointing interim results, with underlying profits falling by 13% to 57.6 million pounds sterling. Food demand was slow due to the hot summer, and, although orders for salads were promising, supply problems negated any gains. Non-food operations such as Fairview, its housebuilding division, has preserved profits, although its furniture and leather divisions are suffering.

Construction, Construction industry, Finance

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