Britain seems to be browned off with Hovis
Britons seems to have fallen out of love with Hovis, the bread brand that has been around since 1886 and is a staple of lunch-boxes across the nation.
Yesterday, its owner Premier Foods took an "impairment charge" of £282m on its bread division, admitting that its profitability has declined and may not recover.
Hovis is one of eight "Power Brands" that Premier believes can lead it back to success.
The others are Ambrosia, Oxo, Mr Kipling, Bisto, Batchelors, Sharwood's and Lloyd Grossman.
Premier said yesterday sales in 2011 fell 10.5 per cent to £1.99bn.
A trading profit of £188m, down 34 per cent, translates into a loss of £176m once the Hovis issue and other factors are taken intoaccount.
- 1 Stoke City investigate 'religious abuse' after 'pig's head is found in Kenwyne Jones' locker'
- 2 Gove’s lesson: spare the comma, spoil the child
- 3 You thought Ryanair's attendants had it bad? Wait 'til you hear about their pilots
- 4 Join Ryanair! See the world! But we'll only pay you for nine months a year
- 5 It’s official: thanks to Stephen Hawking's Israel boycott, anti-Semitism is no more
BMF is the UK’s biggest and best loved outdoor fitness classes
Find out what The Independent's resident travel expert has to say about one of the most beautiful small cities in the world
Win anything from gadgets to five-star holidays on our competitions and offers page.
iJobs Money & Business
£550 - £600 per day: Orgtel: Fidessa Analyst / PM - Banking - London - Up to £...
£450 - £500 per day: Orgtel: Sourcing Manager - Banking - London - Up to £500p...
To be discussed at interview.: Queen Elizabeth's School: An experienced and ef...
£294.05 - £330.92 per day + 150 per day travel and accommodation: Orgtel: A le...