Hovis and Mr Kipling group Premier Foods has served up an 11% rise in annual earnings as swingeing cost cuts helped offset a near-halving in profits in its troubled bread division.
The surplus at the Hovis business slumped 48% to £26.9m. But efforts to slash costs by £48m helped increase trading profits to £123.4m in 2012 and the group said it hopes to make "further progress" this year in the face of challenging markets.
COMMENT RULES: Comments that are judged to be defamatory, abusive or in bad taste are not acceptable and contributors who consistently fall below certain criteria will be permanently blacklisted. The moderator will not enter into debate with individual contributors and the moderator’s decision is final. It is Belfast Telegraph policy to close comments on court cases, tribunals and active legal investigations. We may also close comments on articles which are being targeted for abuse. Problems with commenting? firstname.lastname@example.org