RHM's £2m hit on wheat prices

07 November, 2006
Page 4 
RHM said its bread division had seen good growth as a result of price increases and customer wins, in a trading update for the last six months issued this week.
But a delay in recovering higher wheat price rises cost around £2m in the first half of the year.RHM's cakes division's performance continued to improve, it said. And procurement and logistics savings in the first half of the year will be more than £8m.RHM issued the trading statement for the six months to 28 October, ahead of its results, which will be announced on 13 December. RHM also said this week that it will close its Newcastle bread bakery and move production to the south, with 69 job losses expected (see British Baker, 27 October).



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