Private label, branded and licensed cake producer Inter Link Foods will fail to meet current market forecasts and make a loss after exceptional items for the year to 5 May, the company warned in a statement to the stock exchange.
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In the first half of the year, to 4 November, Inter Link turnover dropped 6.8%, from GBP67.2m (US$88.1m) to GBP62.6m. Profit before tax almost halved, declining by 47.8% to GBP1.9m from GBP3.7m in the year-ago period.
However, the company did say that with internal restructuring measures now complete and new central distribution arrangements operating effectively, Inter Link expects that 2007/8 will be “materially better than the current year”.
