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Margin improvement

Continuous improvement in pricing, productivity, product and purchasing aimed to achieve EBIT margins (pre-corporate costs) of 12% in FY09. At a divisional level we are targeting Foodservice North America to be at 15%, with both Foodservice Europe/Asia and Food Retail being 8%.

Long term we are establishing a goal of 14% pre-corporate which represents estimated “best in class” industry margins applied to the businesses in our Group.

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