date:Aug 24, 2012
or 264M) recouped by December 2013. The latter target has now been met 17 months ahead of the deadline, said Black and Shirley.
Also the disposal would bring simplification, which should allow management to focus on building its core brands Ambrosia, Bachelors, Bisto, Hovis, Loyd Grossman, Mr Kipling, Oxo and Sharwoods and cutting its central overheads, they added. Accomplishing that may in due course lead to growth in earnings.
Shore Capital retained its hold advice on the groups stock.
Pr