Bridgford Foods Corp., the US convenience food firm, has blamed “extraordinary” commodity and fuel costs for deepening half-year losses.
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The company posted a net loss of US$1.1m for the six months to 18 April. A year ago, Bridgford booked a loss of $232,000.
Revenue was down 6.6% to $56.2m and the fall in sales, combined with a hike in costs, has led Bridgford to increase prices in a bid to boost its bottom line.
“Extraordinarily high commodity and fuel costs have continued to reduce operating margins in recent months,” Bridgford said.
“The company has increased prices to offset some of these expenses while pursuing additional distribution channels for its products.”
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